Farenholtz Ventures Ltd. had the following transactions to account for:

Oct. 18		The company sold gift cards totalling $2,600 to a corporate customer who was using them for an employee promotion.
Oct. 31		The companys four employees earned total wages of $10,800 during the month. The source deductions on these wages were CPP of $535, EI of $208 and income taxes of $2,160. The companys CPP premiums on these wages were $535, while the EI premiums were $291.
Nov. 2		The company paid the wages recorded on October 31st.
Nov. 10		Customers redeemed gift cards to pay for $2,100 in sales. Farenholtzs cost for the products sold was $835.
Nov. 15		The company remitted the source deductions related to the October 31st payroll.
Nov. 30		The board of directors of Farenholtz declared dividends of $2.00 per share on the companys common shares. There were 11,000 common shares issued at this date. The dividends are payable on December 15th.
Dec. 15		The company paid the dividends declared on November 30th.

Prepare journal entries for the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

List of Accounts

• Accounts Payable
• Advertising Revenue
• Bank Loan Payable
• Bonds Payable
• Cash
• Commission Revenue
• Cost of Goods Sold
• CPP Payable
• Current Portion of Long-Term Debt
• Customer Loyalty Provision
• Dividends Declared
• Dividends Payable
• EI Payable
• Employee Income Taxes Payable
• Equipment
• Gift Card Liability
• Income Tax Expense
• Income Tax Payable
• Interest Expense
• Interest Payable
• Inventory
• Long-Term Loan Payable
• Membership Revenue
• Miscellaneous Expense
• No Entry
• Notes Payable
• Operating Expenses
• Parts Inventory
• Prepaid Property Taxes
• Prepaid Rent
• Property Tax Expense
• Property Tax Payable
• Rent Expense
• Rent Payable
• Sales Revenue
• Service Revenue
• Subscription Revenue
• Supplies
• Unearned Revenue
• Unearned Warranty Revenue
• Union Dues Payable
• Vehicles
• Wages Expense
• Wages Payable
• Warranty Expense
• Warranty Provision
• Warranty Revenue
• WCB Payable

Date	Account and explanation	Debit	Credit
Oct. 18
Oct. 31
	(To record wages payable)
Oct. 31
	(To record employer's liabilities)
Oct. 31
	(To record wages paid)
Nov. 10
	(To record redemption of gift card)
	(To record cost for the product sold)
Nov. 15
Nov. 30
Dec. 15