Hyatt Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalent payments dun annually. The following instalment payment schedule is partially completed: 1 2 3 Cher Wholesalers Ltd. has a December 31 year end. The company incurred the following transactions related to current liabilities: Chen's cash register showed the following totals at the end of the day on March 17: pre-tax sates $50,000, GST $2.500, and PST $3,500 Chen remitted 549,000 of sales taxes owing from March to the government on April 30. Chen received its property tax bill for the calendar year for $52,800 on March 31, payable May 31. Chen recorded no entries pertaining to property tax during the current year prior to the receipt of this bill. Chen paid its employees for the work of Aupust 15 on August 20. The gross pay was $81.000. The company deducted $4,128 for CPP, $1,312 for E1.56.400 for pension and $16,020 for income tax from the employees' pay. Chen recorded the employer portions of CPP and for the week of August 15 on August 20 for $4,128 and $1837. respectively On September 15, all amounts owing for employee income taxes. CPP, and El pertaining to the payroll transactions above were paid 7 On December 31, Chen's legal counsel believes that the company will have to pay damages of $50,000 next year to a local utility company for failing to pay it on time during the current year 4 5 6 (Hint: This will affect the Utilities Expense account.) Hyatt Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalent payments dun annually. The following instalment payment schedule is partially completed: 1 2 3 Cher Wholesalers Ltd. has a December 31 year end. The company incurred the following transactions related to current liabilities: Chen's cash register showed the following totals at the end of the day on March 17: pre-tax sates $50,000, GST $2.500, and PST $3,500 Chen remitted 549,000 of sales taxes owing from March to the government on April 30. Chen received its property tax bill for the calendar year for $52,800 on March 31, payable May 31. Chen recorded no entries pertaining to property tax during the current year prior to the receipt of this bill. Chen paid its employees for the work of Aupust 15 on August 20. The gross pay was $81.000. The company deducted $4,128 for CPP, $1,312 for E1.56.400 for pension and $16,020 for income tax from the employees' pay. Chen recorded the employer portions of CPP and for the week of August 15 on August 20 for $4,128 and $1837. respectively On September 15, all amounts owing for employee income taxes. CPP, and El pertaining to the payroll transactions above were paid 7 On December 31, Chen's legal counsel believes that the company will have to pay damages of $50,000 next year to a local utility company for failing to pay it on time during the current year 4 5 6 (Hint: This will affect the Utilities Expense account.)