Fantastic Fashions has just completed its first quarter of operations. Assume that Fantastic Fashions adjusts its book quarterly. Below are transactions that have not yet been recorded.

Jan 1 Made cash sales of $75,000 before tax. HST is collected on all sales at a rate of 13%.

Jan 15 Signed a six month note for $12,000 to extend amounts owing on account to Trendy Taste Inc. Interest is 6% annually and due at maturity.

Mar 1 Received the annual property tax bill for $7,500 payable on Apr 30.

Apr 1 Paid gross salaries of $10,000; of this amount $495 is CPP, $178 is EI and $3,465 is for income taxes.

Apr 30 Paid the property taxes bill in full.

The journal entry to record sales on Jan 1 is

Question 4 options:

Cash			75,000
Sales Tax Payable-HST			9,750
	Sales			84,750

Cash			84,750
	Sales			75,000
	Sales Tax Payable-HST			9,750

Account receivable			84,750
	Sales			75,000
	Sales Tax Payable-HST			9,750

Cash			84,750
	Sales			84,750

None of the above