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A list of transactions follows: 1. Purchased inventory (perpetual system) on account. Extended payment terms of the account payable in item 1 by replacing the
A list of transactions follows: 1. Purchased inventory (perpetual system) on account. Extended payment terms of the account payable in item 1 by replacing the accounts payable with the issue of a nine- 2. month, 5% note payable. 3. Recorded accrued interest on the note payable from item 2 4. Recorded repayment of the note and accrued interest from items 2 and 3. 5. Recorded cash received from sale of services, plus HST 6. Recorded salaries expense and employee payroll deductions, and paid employees. . Recorded employer's share of employee benefits. 8. Recorded property tax expense and property tax payable when bill was received. 9. Recorded a receipt of cash for services that will be performed in the future. 10. Recorded the performance of services for item 9
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