On January 1, 2021, Ivanhoe Software Companys general ledger contained these liability accounts:

Accounts Payable		$55,000
Unearned RevenueLoyalty Program		5,300
CPP Payable		1,410
EI Payable		770
HST Payable		9,730
Income Tax Payable		4,040
Unearned Revenue		17,300
Vacation Pay Payable		9,170

In January, the following selected transactions occurred:

Jan. 2		Issued a $51,000, four-month, 8% note. Interest is payable at maturity.
5		Sold merchandise for $11,300 cash, plus 13% HST. The cost of this sale was $6,350. Ivanhoe Software uses a perpetual inventory system.
12		Provided services for customers who had paid $12,300 cash in advance. The payment included HST of $1,415.
14		Paid the Receiver General (federal government) for sales taxes collected in December 2020.
15		Paid the Receiver General for amounts owing from the December payroll for CPP, EI, and income tax.
17		Paid $16,300 to creditors on account.
20		Sold 4,680 units of a new product on account for $60 per unit, plus 13% HST. This new product has a one-year warranty. It is estimated that 9% of the units sold will be returned for repair at an average cost of $10 per unit. The cost of this sale was $25 per unit.
29		During the month, provided $2,600 of services for customers who redeemed their customer loyalty rewards. Assume that HST of $245 is included in the $2,600.
31		Issued 31,900 loyalty rewards points worth $1 each. Based on past experience, 20% of these points are expected to be redeemed. Cash sales related to the issuance of the loyalty points were $257,800.
31		Recorded and paid the monthly payroll. Gross salaries were $22,750. Amounts withheld included CPP of $719, EI of $391, and income tax of $3,567.

1.Record the transactions. (Credit account titles are automatically indented when the 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. Round answers to 0 decimal places, e.g. 5,276. Record journal entries in the order presented in the problem.)

2. Record adjusting entries for the following:

1.		Interest on the note payable
2.		The estimated warranty liability
3.		Employee benefits for CPP, EI, and vacation pay (accrued at a rate of 4%)
4.		Estimated property taxes of $10,080 for the 2021 calendar year

3. Prepare the current liabilities section of the balance sheet at January 31.