Culver Limited has an October $31$ year end. On October $1,2024,$ Culver had the following current liabilities listed on its books:

Bank overdraft

$$20,460$

Accounts payable

$99,000$

CPP$,$ El and income tax payable

$7,590$

$10\mathrm{.}560$

Deferred revenues

During October $2024,$ Culver engaged in the following transactions:

Oct $1$

Oct $5$

Negotiated a $$44,000$ line of credit with their bank to replace the bank overdraft.

Sold goods worth $$26,400$ on which they had previously received a $$10,560$ deposit. The balance is due in $30$ days.

Oct $12$

Oct $15$

Bought $$17\mathrm{.}600$ of inventory on credit, terms of $30$ days.

Paid amounts due the Government of Canada for the payroll amounts outstanding from September $30.$

Oct $20$

Oct $21$

Paid $$76,560$ owing to a supplier.

Received $$4,400$ from a client for work that will be performed in January $2018.$

Oct $21$

Sold $$49,280$ of goods, half for cash, half on credit.

Oct $22$

Oct $30$

Made a $$8,800$ payment on the line of credit.

Paid the monthly payroll amounts to employees. The gross payroll was $$14,300.$

Amounts withheld from the employees' cheques were as follows:

Canada pension plan premiums $($CP$)$

$$708$

Employment insurance premiums $($EI$)$

$$230$

$$2,860$

Income tax

Oct $31$

Declared $$4,400$ of dividends payable next year.

At this time, the company also recorded their liability for amounts due to the government for PP and El

Prepare all of the journal entries required as a result of the above transactions