On January 1, 2020, the ledger of Sheffield Company contains the following liability accounts. Accounts Payable Sales Taxes Payable $57,000 7,800 Unearned Service Revenue 16,000 During January, the following selected transactions occurred. Jan. 5 I Sold marchandise for cash totaling $20,520, which includes 8% sales taxes. 22 12 Performed services for customers who had made advance payments of $10,500. (Credit Service Revenue.) 14 Paid state revenue department for sales taxes collected in December 2019 ($7,800). 20 21 225 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. Borrowed $27,000 from Girard Bank on a 3-month, 8%, $27,000 note. Sold merchandise for cash totaling $9,936, which includes 8% sales taxes.