journal entry

Jan 1 Jan 15 Fantastic Fashions has just completed its first quarter of operations. Below are transactions that have not yet been recorded. Pre-tax cash sales amounted to $68,000. HST is collected on all sales at a rate of 13% Signed a three month note for $12,200 to extend amounts owing on account to Flounder Taste Inc. Interest is 6% annually and due at maturity. Received the annual property tax bill for $6,900 payable on June 1. Paid salaries of $11.000; of this amount $550 is CPP $174 is El and $3,815 is for income taxes (record the employer portion as well). Paid the note due A customer sued Fantastic Fashions for $210.000. Legal counsel has advised that it is unlikely damages will be awarded. Mar 1 Apr 1 Apr 15 Apr 29 Jun 1 Paid the property taxes bill in full. Date Account Titles and Explanation Debit Credit Jan 1 Cash 76 840 Sales 68000 Sales Tax Payable Jan 15 Accounts Payable 12200 Notes Payable 12200 Mar 1 Property Tax Expense Property Tax Payable Apr 1 Salaries Expense 11000 CPP Payable 550 El Payable 174 tax 2015 Cash 6461 (To record salaries expense) Apr 1 Notes Payable Interest Evense Cash (To record employee benefits expense) Apr 15 Notes Payable 12200 Interest Expense 183 Cach 12383 Apr 29 No Entry Apr 15 Notes Payable 12200 Interest Expense 183 Cash 12383 Apr 29 No Entry 0 No Entry Qun 1 Property Tax Payable