On February 28, 2021, Crane Ltd's general ledger contained the following liability accounts: Accounts payable CPP payable $42,000 2,680 El payable 1,104 Sales tax payable 5,800 Employee income tax payable 5,500 The following selected transactions occurred during the month: Mar. 2 3 Issued a three-month, 6% note payable in exchange for an account payable in the amount of $10,000. Interest is due at maturity. Sold inventory for cash totalling $35,000, plus 13% HST. The cost of goods sold was $24,000. Crane uses a perpetual inventory system. Received the property tax bill of $16,000 for the calendar year. It is payable on May 31. (Hint: No accrual has been Mar. 2 3 4 12 16 Issued a three-month, 6% note payable in exchange for an account payable in the amount of $10,000. Interest is due at maturity. Sold inventory for cash totalling $35,000, plus 13% HST. The cost of goods sold was $24,000. Crane uses a perpetual inventory system. Received the property tax bill of $16,000 for the calendar year. It is payable on May 31. (Hint: No accrual has been recorded during the year.) Provided services for customers worth $10,000 plus HST of 13%. The company received payment in full for services and HST. Remitted $9,284 to the government for amounts owing from the February payroll for employee payroll deductions of $7,300 (CPP $1,340, EI $460, and employee income tax $5,500) and for employee benefits of $1,984 (CPP $1,340 and El $644). 27 Paid $25,000 to trade creditors on account. 30 30 Paid employees for the month. Gross salaries totalled $14,000 and payroll deductions included CPP of $800, El of $259, and employee income tax of $5,800. Employee benefits included CPP of $800 and El of $363. 31 Remitted $5,800 HST pertaining to sales tax collected in February. Record the above transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation (To record sales) Debit Credit