On January 1, 2019, the ledger of Concord Corporation contains the following liability accounts. Accounts Payable Sales Taxes Payable $56,300 7,100 16,300 Unearned Service Revenue During January, the following 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 $11,500. (Credit Service Revenue.) Paid state revenue department for sales taxes collected in December 2018 ($7,100). Sold 980 units of a new product on credit at $50 per unit, plus 8% sales tax. Borrowed $22,500 from Girard Bank on a 3-month, 8%, $22,500 note. Sold merchandise for cash totaling $12,420, which includes 8% sales taxes. 20 21 25 Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 5 Cash 20,520 Sales Revenue 19,000 Sales Taxes Payable 1,520 Jan. 12 Unearned Service Revenue 11,500 Service Revenue 11,500 Jan. 14 - Sales Taxes Payable 7,100 Cash 7,100 Jan. 20 Accounts Receivable 52,920 Sales Revenue 49,000 Sales Taxes Payable 3,920 Jan. 21 Cash 22,500 Notes Payable 22,500 Jan. 25 Cash 12,420 Sales Revenue 11,500 Sales Taxes Payable 920 Journalize the adjusting entry at January 31 for the outstanding note 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