IS 3 On January 31, 2021, Cardston Company had the following payroll liability accounts in its ledger 4 5 Canada Pension Plan payable S 7,887 Life insurance payable 6 Disability insurance payable 1.280 Union dues payable 7 Employment Insurance payable 3.755 Vacation pay payable Income tax payable 16,252 Workers' compensation payable 855 1.450 20,520 4275 10 In February, the following transactions occurred: 11 12 Feb. 4 Sent a cheque to the union treasurer for union dues. 13 7 Sent a cheque to the insurance company for the disability and life insurance, 14 13 issued cheque to the Receiver General for the amounts due for CPP, El, and income tax 20 Pald the amount due to the workers' compensation plan 28 Completed the monthly payroll register, which shows gross salaries $92,600, CPP withheld $4281; El withheld $1,695, income tax withheld $17,595, unlon dues withheld $1,574; and long-term disability Insurance premiums $1.380. 18 28 Prepared payroll cheques for the February net pay and distributed the cheques to the employees. 19 28 Recorded an adjusting journal entry to record February employee benefits for CPP, El, workers' compensation at 5% of gross pay. 20 vacation pay at 4 of gross pay, and life insurance at 1% of gross pay. 21 22 Instructions 23 a) Journalize the February transactions and adjustments. 24 25 Date Account Titles and Explanation Rel Debit Credit 26 27 28 32 33 34 35 30 37 3 38 38 39 39 an 40 41 42 44 45 46 47 48 49 50 52 53 54 SS 57 58 Salaries payable Ref 63 64 65 66 67 b) Calculate the balances in each of the payrollability accounts at February 28, 2021. 68 69 GENERAL LEDGER 70 Canada Pension Plan payable 71 Date Explanation Ref Debit Credit Feb. 1 Balance 73 74 75 76 77 Disability Insurance payable 78 Date Explanation Ref Debit Credit Feb. 1 Balance Balance Explanation Date Feb. 1 Balance Union dues payable Rel Balance Explanation Date Feb. 1 Balance Employment Insurance payable Explanation Ref Debit Vacation pay payable Rel Credit Balance Explanation Date Feb. 1 Balance Date Feb. 1 Balance Income tax payable Ref Workers' compensation paya Explanation Rel Debit Explanation Credit Date Feb. 1 Balance Balance Date Feb. 1 Balance 92 24 93 94 95 95 06 90 92 9 QA 98 09 99 100 100 101 102 103 104 Life insurance payable Rel Credit Explanation Debit Balance Date Feb. 1 Balance