Recording Various Liabilities}

Glenview Hardware had the following transactions that produced liabilities during 2018:

a. Purchased merchandise on credit for \(\$ 30,000\) (Note: Assume a periodic inventory system).

b. Year-end wages of \(\$ 10,000\) incurred, but not paid. Related income taxes of \(\$ 1,200\), Canada Pension Plan of \(\$ 620\) (employee portion), and Employment Insurance premiums (employee portion) of \(\$ 145\) are withheld.

c. Year-end estimated corporation income tax payable, but unpaid, for the year in the amount of \(\$ 42,850\).

d. Sold merchandise on account for \(\$ 1,262\), including provincial sales taxes of \(\$ 48\). (Note: Assume a periodic inventory system.)

e. Employer's share of Canada Pension and Employment Insurance premiums for the period were \(\$ 620\) and \(\$ 203\), respectively.

f. Borrowed cash under a 90 -day, \(9 \%, \$ 25,000\) note.

\section*{Required:}
Prepare the entries to record these transactions (treat each transaction independently).
\section*{Exercise