On January 1, 2022, the ledger of Sheridan Company contains these liability accounts. Accounts Payable $50,500 Sales Taxes Payable 8,300 Unearned Service Revenue 15,500 During January, these selected transactions occurred. Jan 5 Sold merchandise for cash totaling $20,520, which includes a sales taxes. Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.) 12 14 Paid state revenue department for sales taxes collected in December 2021 ($8,300). 20 21 Sold 900 units of a new product on credit at $50 per unit, plus 8% sales ta. This new product is subject to a 1-year warranty Borrowed $29.250 from Girard Bank on a 3-month, 8%, $29.250 nate. $3-8%, $. Sold merchandise for cash totaling $12,096, which includes 8% sales taxes. 25 (a) Your answer is correct 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 Cash 20520 Sales Taxes Payable Sales Revenue Unearned Service Revenue 11000 Service Revenue Sales Taxes Payable 8300 Cash 20 Accounts Receivable 45600 Sales Taxes Payable Sales Revenue 21 V Cash 29250 Notes Payable Cash 12096 Sales Tes Payable Sales Revenue e Textbook and Media List of Accounts Attempts: 2 of 3 used (b) 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 Girard Bank note. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit 1. 2. Tudi