If I can get explanations of why the numbers are here, that will be the best. thank you :)

Lyrtricks Ltd., which has a December 31 year end, had the following transactions in December 2020 and January 2021: 2020 Dec. 1 Dec. 31 The company borrowed $110,000 from a bank on a five-year loan payable. The terms of the loan stipulate that Lyrtricks must repay 1/5 of the principal every November 30 plus the interest accrued to that date. The loan bears interest at 9% per annum. Recorded employee wages for December. The wages earned by employees amounted to $9,300, and the company withheld CPP of $536, El of $452, and income taxes of $2,300. Lyrtricks' employer contributions were $536 for CPP and $633 for EI. Recorded the adjusting entry to record the interest incurred on the bank loan during December. Recorded the entry to reclassify the current portion of the bank loan. Dec. 31 Dec. 31 2021 Jan. 2 Jan. 15 Paid the wages recorded on December 31. Made the remittance to the government related to the December 31 payroll. Prepare all necessary journal entries related to the above transactions. (Enter debit entries first followed by credit entries. 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 for the amounts.) Date Account and explanation 2020 Debit Credit Dec. 1 Cash 110000 Long-Term Loan Payable 110000 Dec. 31 Operating Expenses 9300 CPP Payable 536 El Payable 452 Employee Income Taxes Payable 2300 6012 Wages Payable (To record wages payable.) Wages Expense 1169 CPP Payable 536 633 EI Payable (To record employer's liabilities.) Interest Expense Dec. 31 Interest Payable (To record interest.) Current Portion of Long-Term Debt Long-Term Loan Payable (To record reclassification of current portion of bank loan.) 2021 Jan. 2 Wages Payable 6012 Cash 6012 Jan. 15 CPP Payable EI Payable Employee Income Taxes Payable 2300 Cash