On January 1, 2020, the ledger of Crane Luggage contains the following liability accounts (amounts in thousands). During January, the following selected transactions occurred. Jan. 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 $7,000). 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\$22,500 from First National Bank on a 3-month, 8\%, NT $22,500 note. 25 Sold merchandise for cash totaling NT $12,420, which includes 8% sales taxes. 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) eTextbook and Media 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. (Hint: Use one-third of a month for the First National Bank note.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)