Problem 11-01A a-c (Video) On January 1, 2020, the ledger of Sunland Company contains the following liability accounts. Accounts Payable $56,500 Sales Taxes Payable 7,900 Unearned Service Revenue 15,500 During January, the following 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.) Paid state revenue department for sales taxes collected in December 2019 ($7,900). 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 $24,750 from Girard Bank on a 3-month, 8%, $24,750 note. 25 Sold merchandise for cash totaling $11,016, which includes 8% sales taxes. 14 > Journalize the adjusting entnes at January 31 for (1) the outstanding notes payable, and (2) estimated warranty liability assung warranty costs need to her Use one third of a month for the Girard Banknote (Credit account title are automatically indented when astered. Do not manually decorate presented in the problem.) No. Date Account Titles and Explanation Credit 1 Prepare the current liabilities section of the balance sheet at January 31, 2020. Assume no change in accounts payable. Sunland Company Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work W I IST OF ACCOUNTS