On January 1,2020, the ledger of Novak Corp.contains the following liability accounts Accounts Payable $53500 Sales Taxes Payable 8,300 Unearned Service Revenue 15800 During January,the following selected transactions occurred Jan. 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 2019($8,300 20 Sold 960 units of a new product on credit at $50 per unit, plus 8% sales tax. 21 Borrowed $31,500 from Girard Bank on a 3-month, 8%, $31,500 note. 25 Sold merchandise for cash totaling $12,420, which includes 8% sales taxes. Your answer is incorrect. Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manualiy. Record journal entries In the order presented in the probiem.) Debit Date Account Titles and Explanation Credit x Your answer is incorrect Journalize the adjusting entry at January 31 for the outstanding note payable. (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 monually Date Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts x Your answer is incorrect Prepare the current liabilities section of the balance sheet at January 31,2020. Assume no change in accounts payable. Novak Corp Balance Sheet (Partial)