Chap 10: Liabilities PROBLEMS P10-1A : On January 1, 2014, the ledger of Shumway Company contains the following liability accounts. Accounts Payable E52 000 Sales Taxes Payable E5 800 Unearned Service Revenue E14 000 During January, the following selected transactions occurred. Jan 5: Sold merchandise for cash totaling $22,470, which includes 7% sales taxes. Jan 12: Provided services for customers who had made advance payments of #10,000. (Credit Service Revenue). Jan 14: Paid revenue department for sales taxes collected in December 2013 (65,800). Jan 20: Sold 600 units of a new product on credit at $50 per unit, plus 7% sales tax. Jan 21: Borrowed $14,000 from Dekalb Bank on a 3-month, 8%, E14,000 note. Jan 25: Sold merchandise for cash totaling $12,947, which includes 7% sales taxes. Instructions: (a) Journalize the January transactions. (b) Journalize the adjusting entries at January 31 for the outstanding notes payable. (Hint: Use