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Problem 10-1A On January 1, 2019, the ledger of Skysong, Inc....

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Accounting

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Problem 10-1A On January 1, 2019, the ledger of Skysong, Inc. contains the following liability accounts. Accounts Payable $56,400 Sales Taxes Payable 8,200 Unearned Service Revenue 16,000 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20.520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $11,000. (Credit Servies Revenue.) 14 Paid state revenue department for sales taxes collected in December 2018 (58.200). 20 Sold 940 units of a new product on credit at $50 per unit, plus 8% sales tax. 21 Borrowed $29,250 from Girard Bank on a 3-month, 8%, $29,250 note. 25 Sold merchandise for cash totaling $12,420, which includes 8% sales taxes. Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

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