On January 1,2020, the ledger of Sheridan Company contains the following liability accounts. 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 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 $12.096, which includes 8% sales taxes. Credit Accounts Receivable Sales Revenue Sales Taxes Payable tan.21> Cash 29.250 Notes Payable Jan.25 Cash Sales Revenue Sales Taxes Payable 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 ore automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)