On January 1, 2020, the ledger of Chuan-Kwang Luggage contains the following liability accounts (amounts in thousands).

Accounts Payable .....................NT$52,000
Sales Taxes Payable ..........................7,700
Unearned Service Revenue ...........16,000

During January, the following selected transactions occurred.
Jan. 5 Sold merchandise for cash totaling NT$20,520, which includes 8% sales taxes.
        12 Performed services for customers who had made advance payments of NT$10,000. (Credit Service Revenue.)
        14 Paid revenue department for sales taxes collected in December 2019 (NT$7,700).
        20 Sold 900 units of a new product on credit at NT$50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty.
        21 Borrowed NT$27,000 from First National Bank on a 3-month, 8%, NT$27,000 note.
        25 Sold merchandise for cash totaling NT$12,420, which includes 8% sales taxes.

Instructions
a. Journalize the January transactions.
b. Journalize the adjusting entries at January 31 for (1) the outstanding notes payable, and (2) estimated warranty liability, assuming warranty costs are expected to equal 7% of sales of the new product.
c. Prepare the current liabilities section of the statement of financial position at January 31, 2020. Assume no change in accounts payable.