On January 1, 2022, the ledger of Crane Company contains these liability accounts. Accounts Payable $52,000 Sales Taxes Payable 7,400 Unearned Service Revenue 17,000 During January, these selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. 12 14 20 20 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 2021 ($7,400). 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. 21 Borrowed $24,750 from Girard Bank on a 3-month, 8%, $24,750 note. 25 25 Sold merchandise for cash totaling $8,208, which includes 8% sales taxes.