On jan 1 07 daniels company contained these liability accts. Accts payable 42,500 Sales tax payable 6,600 Unearned service revenue 19,000 During january: 1st borrowed 12,000 in cash from midland bank on 4 month 8% 12,000 note 5th sold merchandise for cash 6,510, which includes 5% sales tax 12th provided services for customers who had made advanced payments of 10,000 (credit service revenues) 14th paid state treasurers department for sales tax collected dec 2006, $6,600 20th sold 500 units of a new product on credit at 48$ per unit, plus 5% sales tax During january the company's employees earned wages of 60,000. Withholdings related to wages were 4,590 for soc. Sec' 5,000 for Federal, and 1,500 for state income. The company owes no money related to these earnings for federal or state unemployment. Assume that wages earned during january will be paid during february. No entry had been recorded for wages or payroll tax expense as of jan 31 a. Journalize transactions b. Journalize the adjusting entries at jan 31 for the outstanding note payable and for wages expense and payroll tax expense c. Prepare the current liabilities section of the balance sheet at jan 31 2007. Assume no change in accounts payable.