Bonita Wholesalers Ltd. has a December 31 year end. The company incurred the following transactions related to current liabilities: 1. 2. 3 4. Bonita's cash register showed the following totals at the end of the day on March 17: pre-tax sales $53,000, GST $2,650, and PST $3.710 Bonita remitted $49,000 of sales taxes owing from March to the government on April 30. Bonita received its property tax bill for the calendar year for $60,000 on March 31, payable May 31. Bonita recorded no entries pertaining to property tax during the current year prior to the receipt of this bill Bonita paid its employees for the week of August 15 on August 20. The gross pay was $84,000. The company deducted $4,128 for CPP. $1,312 for El. $6,000 for pension, and $16,020 for income tax from the employees' pay. Bonita recorded the employer portions of CPP and El for the week of August 15 on August 20 for $4,128 and $1,837 respectively On September 15, all amounts owing for employee income taxes, CPP, and El pertaining to the payroll transactions above were paid On December 31. Bonita's legal counsel believes that the company will have to pay damages of $44,000 next year to a local utility company for failing to pay it on time during the current year. (Hint: This will affect the Utilities Expense account) 5. 6 7 Record journal entries for the transactions above. (Round answers to the nearest whole dollar, es: 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation Debit Credit 1 59360 Cash Sales 53000 Sales Tax Payable 6360 2. Sales Tax Payable 49000 Cash 49000 3 Property Tax Expense 60000 Property Tax Payable 60000 4 CPP Payable 4128 El Payable 1312 Pension Payable 6000 Employee Income Tax Payable 16020 5. Salaries Expense 5965 El Payable 1837 CPP Payable Cash Pension Payable Income Tax Payable (To record payroll and employee deductions) UN 5. Salaries Expense El Payable CPP Payable 6. CPP Payable El Payable Income Tax Payable Cash TOO UM 7. Utilities Expense Accounts Payable