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On January 1, 2022, the ledger of Sunland Company contains these liability accounts $56.500 Accounts Payable Sales Taxes payable Unearned Service Revenue 7.900 15,500 During January, these selected transactions occurred Jan. 5 12 14 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes, Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.) Paid state revenue department for sales taxes collected in December 2021157.900). Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty 20 21 Borrowed $24.750 from Girard Bank on a 3-month, 8% $24.750 note, 25 Sold merchandise for cash totaling $11,016, which includes 8% sales taxes. Journalte 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 in Use one-third of a month for the Girard Banknote) Cred accounts are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem Debit Credit No. Date Account Titles and Explanation 1 2