On January 1, 2015, the ledger of Accardo Company contains the following liability accounts.

On January 1, 2015, the ledger of Accardo Company contains the following liability accounts.

Accounts Payable$52,810Sales Taxes Payable8,770Unearned Service Revenue16,470

During January, the following selected transactions occurred.

Jan. 5Sold merchandise for cash totaling $21,384, which includes 8% sales taxes.12Performed services for customers who had made advance payments of $11,590. (Credit Service Revenue.)14Paid state revenue department for sales taxes collected in December 2014 ($8,770).20Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax.21Borrowed $29,250 from Girard Bank on a 3-month, 8%, $29,250 note.25Sold merchandise for cash totaling $11,556, which includes 8% sales taxes.

Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 5

Jan. 12

Jan. 14

Jan. 20

Jan. 21

Jan. 25

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Journalize the adjusting entries at January 31 for the outstanding notes payable. (Hint: Use one-third of a month for the Girard Bank note.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 31

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Prepare the current liabilities section of the balance sheet at January 31, 2015. Assume no change in accounts payable.

Accardo Company

Balance Sheet (Partial)

January 31, 2014

Current Assets

Current Liabilities

Expenses

Intangible Assets

Long-term Investments

Long-term Liabilities

Net Income / (Loss)

Property, Plant and Equipment

Revenues

Stockholders’ Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Expenses

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders’ Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Total Revenues

Total Stockholders’ Equity

$

Current Assets    

Current Liabilities    

Expenses    

Intangible Assets    

Long-term Investments    

Long-term Liabilities    

Net Income / (Loss)    

Property, Plant and Equipment    

Revenues    

Stockholders’ Equity    

Total Assets    

Total Current Assets    

Total Current Liabilities    

Total Expenses    

Total Intangible Assets    

Total Liabilities    

Total Liabilities and Stockholders’ Equity    

Total Long-term Investments    

Total Long-term Liabilities    

Total Property, Plant and Equipment    

Total Revenues    

Total Stockholders’ Equity    

$

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