On February 28, 2021, Sheridan Ltd's general ledger contained the following liability accounts: Accounts payable CPP payable El payable Sales tax payable Employee income tax payable $47,000 3,180 1,123 6,100 5,520 2 4 The following selected transactions occurred during the month: Mar. Issued a three month, 6% note payable in exchange for an account payable in the amount of $14,000. Interestis due at maturity. 3 Sold inventory for cash totalling $50,000, plus 13% HST. The cost of goods sold was $24,000. Sheridan uses a perpetual inventory system. Received the property tax bill of $18,000 for the calendar year. It is payable on May 31. (Hint: No accrual has been recorded during the year.) 12 Provided services for customers worth $10,000 plus HST of 13%. The company received payment in full for Services and HST. 16 Remitted $9,823 to the government for amounts owing from the February payroll for employee payroll deductions of $7,578 (CPP $1,590, El $468, and employee income tax $5,520) and for employee benefits of $2,245 (CPP $1,590 and EI $655). 27 Paid $29,000 to trade creditors on account Paid employees for the month. Gross salaries totalled $16,000 and payroll deductions included CPP of $802. El of $259, and employee income tax of $5,880. Employee benefits included CPP of $802 and El of $363. Remitted $6,100 HST pertaining to sales tax collected in February 30 31 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, c3, 5,275.) Date Account Titles and Explanation Debit Credit To record sales (To record cost of goods sold) Question 1 of 6 > -/3.5 !!! (To record payroll and employee deductions) (Yo record employee benefits Question 1 of 6 -/3.5 III List of Accounts Record any required adjusting entries at March 31. (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 decimal places, e.. 5,275.) Date Account Titles and Explanation Debit Credit Mar. 31 List of Accounts Prepare the current liabilities section of the statement of financial position at March 31. (Round answers to decimal places. 6.3. 5.275.) SHERIDAN LTD. Statement of Financial Position (partial) Current liabilities I Total current liabilities