Problem 10-1A On February 28, 2018, Molega Ltd.'s general ledger contained the following liability accounts: Accounts payable $45,900 CPP payable 2,530 El payable 1,063 Sales tax payable 6,400 Employee income tax payable 6,039 Unearned revenue 14,100 The following selected transactions occurred during the month: Mar. 2 Issued a three-month, 6% note payable in exchange for an account payable in the amount of $9,200. Interest is due at maturity. 5 Sold inventory for cash totalling $38,400, plus 13% HST. The cost of goods sold was $23,200. Molega uses a perpetual inventory system. 9 Received the property tax bill of $18,100 for the calendar year. It is payable on May 1, 12 Provided services for customers who had made advance payments of $11,300 including 13% HST, which is not payable until the related sale occurs. 13 Paid $6,400 HST to the Receiver General for sales tax collected in February. 16 Paid $9,632 to the Receiver General for amounts owing from the February payroll for employee payroll deductions of $7,747 (CPP $1,265, El $443, and employee income tax $6,039) and for employee benefits of $1,885 (CPP $1,265, and EI $620). 27 Paid $28,500 to trade creditors on account 31 Paid employees for the month. Gross salaries totalled $15,700 and payroll deductions included CPP of $751, EI of $295, and employee income tax of $5,990. Employee benefits included CPP of $751 and El of $413 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. Round answers to decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Mar. 2 Accounts Payable Notes Payable Mar. 5 Cash Sales Sales Tax Payable (To record sales) Mar. 5 Cost of Goods Sold Inventory (To record cost of goods sold) Mar. 9 Property Tax Expense Property Tax Payable Mar. 12 Unearned Revenue Service Revenue Sales Tax Payable Mar. 13 Sales Tax Payable Cash Mar. 16 CPP Payable El Payable 1,063 Employee Income Tax Payable Cash Mar. 27 Accounts Payable Cash Mar. 31 Salaries Expense CPP Payable EI Payable Employee Income Tax Payable Cash (To record payroll and employee deductions) Mar 31 Employee Benefits Expense CPP Payable El Payable (To record employee benefits) Record any required adjusting entries at March 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Mar 31 Interest Expense Interest Payable Prepare the current liabilities section of the statement of financial position at March 31. (Round answers to o decimal places, 0.g. 5,275.) MOLEGA LTD. Statement of Financial Position (partial) March 31, 2018 Current liabilities Accounts Payable CPP Payable Et Payable Sales Tax Payable Employee Income Tax Payable Unearned Revenue Notes Payable Property Tax Payable Interest Payable Total current liabilities