Problem 10-01A On January 1, 2022, the ledger of Cullumber Company contained these liability accounts. Accounts Payable   $45,000 Sales Taxes Payable   9,100 Unearned Service Revenue   21,500 During January, the following selected transactions occurred. Jan. 1   Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. 5   Sold merchandise for cash totaling $5,936, which includes 6% sales taxes. 12   Performed services for customers who had made advance payments of $12,500. (Credit Service Revenue.) 14   Paid state treasurer’s department for sales taxes collected in December 2021, $9,100. 20   Sold 750 units of a new product on credit at $54 per unit, plus 6% sales tax. During January, the company’s employees earned wages of $52,000. Withholdings related to these wages were $3,978 for Social Security (FICA), $5,686 for federal income tax, and $1,706 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume that wages earned during January will be paid during February. No entry had been recorded for wages or payroll tax expense as of January 31.           Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar amount, e.g. 5,275.) Date Account Titles and Explanation Debit Credit choose a transaction date  Jan. 1Jan. 5Jan. 12Jan. 14Jan. 20Jan. 31 enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount   choose a transaction date  Jan. 1Jan. 5Jan. 12Jan. 14Jan. 20Jan. 31 enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount   choose a transaction date  Jan. 1Jan. 5Jan. 12Jan. 14Jan. 20Jan. 31 enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount   choose a transaction date  Jan. 1Jan. 5Jan. 12Jan. 14Jan. 20Jan. 31 enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount   choose a transaction date  Jan. 1Jan. 5Jan. 12Jan. 14Jan. 20Jan. 31 enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount     enter an account title   enter a debit amount   enter a credit amount       SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO       Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 enter an account title to record the interest on outstanding notes payable on January 31   enter a debit amount   enter a credit amount     enter an account title to record the interest on outstanding notes payable on January 31   enter a debit amount   enter a credit amount     (To record the interest on outstanding notes payable.)     Jan. 31 enter an account title to record payroll and withholding taxes on January 31   enter a debit amount   enter a credit amount     enter an account title to record payroll and withholding taxes on January 31   enter a debit amount   enter a credit amount     enter an account title to record payroll and withholding taxes on January 31   enter a debit amount   enter a credit amount     enter an account title to record payroll and withholding taxes on January 31   enter a debit amount   enter a credit amount     enter an account title to record payroll and withholding taxes on January 31   enter a debit amount   enter a credit amount     (To record payroll and withholding taxes.)     Jan. 31 enter an account title to record employer's payroll taxes on January 31   enter a debit amount   enter a credit amount     enter an account title to record employer's payroll taxes on January 31   enter a debit amount   enter a credit amount     (To record employer’s payroll taxes.)         SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO           $enter a total amount for this subsection

DATE   TRANSACTIONS 20X1   Mar. 4   Mr. Howard borrows $34,560 from the bank on a note payable for the business. Terms of the note are 10 percent interest for 45 days.   11   A 90-day $47,520 note payable to the bank is discounted at a rate of 8 percent.   22   Sold a car to Darnell Jones for $40,320 on a 75-day note receivable, bearing interest at 7 percent.   23   Discounted the Jones note with the bank. The bank charges a discount rate of 10 percent.   25   Sold a car for $48,960 to Henry Thomas. Thomas paid $4,000 cash and signed a 30-day note, bearing interest at 9 percent, for the balance.   28   Alfred Herron's account receivable is overdue. Howard requires him to sign a 8 percent, 30-day note for the balance of $37,440. Additional Data Howard pays all the company’s notes payable on time. Darnell Jones defaults on his $40,320 note and the bank charges the company’s checking account for the maturity value of the note and a service fee of $54. Henry Thomas pays…

8:17 1 customer in payment of the customer's account of \ $2.700. What is the up-to-date ending Cash balance? 4. a bank reconciliation included a deposit in transit of $720, the company's journal entry for this reconciling item would include 5. Urban Bloom, Incorporated's books show an ending cash balance of $13,500 before preparing the bank reconciliationGiven the bank reconciliation shows outstanding checks of \$3700 deposits in transit of \$2,700, NSF check of $ 170, and interest earned on the bank account of $80, the company's up-to-date ending cash balance equals: 6. Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $19,200. The bank reconciliation for the period showed an adjustment for a deposit in transit of $1,850, outstanding checks of $2,700, an NSF check of $1,400, bank service charges of $65 and the EFT from a customer in payment of the customer's account of $2,200. What was the cash balance on the Egrane's books (before the adjustments for…

EX.06.144 On April 7, Wilhelm, Inc. sold goods for $50,000 and accepted a 10%, 60-day note. On April 22, the company sold the note to a bank at a 13% discount rate. Required:Compute the amount of interest revenue and the loss on sale of the note. Assume a 360-day year. Round your answers to two decimal places. Interest revenue $ Loss on sale of note $