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Fantastic Fashions has just completed its first quarter of operations. Befow are transactions that have not yet been recorded. Jan 1 Pre-taxcash sales amounted to

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Fantastic Fashions has just completed its first quarter of operations. Befow are transactions that have not yet been recorded. Jan 1 Pre-taxcash sales amounted to $72,000. HST is collected on all sales at a rate of 13%. Jan 15 Signed a three month note for $13,000 to extend amounts owing on account to Monty Taste inc. Interest is 6% annually and due at maturity. Mar 1 Received the annual property tax bill for $8,400 payable on June 1. Apr 1 Paid salaries of $13,000; of this amount $660 is CPP,$205 is El and $4,515 is for income taxes (record the employer portion as well). Apr 15 Paid the notedue. Apr 29 A customer sued Fantastic Fashions for $250,000. Legal counsei has advised that it is unlikely damages will be awarded. Jun 1 Paid the property taxes bill in full. Prepare the journal entries listed below. If no entry is required, select "No entry" for the occount titles and enter O for the amounts. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem List all debit entries before credit entries. Round onswers to O decimal ploces, eg. 5,275.) Property Tax Payable Salaries Expense CPP Payable El Payable Property Tax Payabie Cash (To record salarles expense) Aar 15 Notes Payabie Interst Expense Cash

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