On January 1, 2022, the ledger of Swifty Company contains these liability accounts. Accounts Payable $51,000 Sales Taxes Payable 8,400 Unearned Service Revenue 15,500 During January, these selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.) 14 Paid state revenue department for sales taxes collected in December 2021 ($8,400). 20 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 $29,250 from Girard Bank on a 3-month, 8%, $29,250 note. 25 Sold merchandise for cash totaling $11,772, which includes 8% sales taxes. (a) 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 choose a transaction date enter an account title NOT enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount eTextbook and Media List of Accounts Last saved 1 second ago. Attempts: 0 of 5 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 Credit 1. choose a transaction date enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount 2. choose a transaction date enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transaction enter a debit amount enter a credit amount eTextbook and Media List of Accounts Attempts: 0 of 5 used (c) Partially correct answer icon Your answer is partially correct. Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in accounts payable. Swifty Company Balance Sheet (Partial) choose the accounting period January 31, 2022 select an opening section name Current Liabilities enter a balance sheet item Notes Payable $enter a balance sheet item 29,250 enter a balance sheet item Accounts Payable enter a balance sheet item 51,000 enter a balance sheet item Interest Payable enter a balance sheet item 65 enter a balance sheet item Sales Taxes Payable enter a balance sheet item 5,992 enter a balance sheet item Warranty Liability enter a dollar amount 45,000 enter a balance sheet item Unearned Service Revenue enter a dollar amount 4,500 select a closing section name Total Current Liabilities $enter a total amount for this section 135,807