PROBLEMS (GROUP A) MyAccountingLab Problem 11-1A he following selected transactions of Truestar Communications, a Manitoba company, occurred during 2013 and 2014. The company's year end is December 31. 2013 Jan. 3 Purchased a machine at a cost of $350,000 plus 5-percent GST, signing a 5-percent, six-month note payable for that amount. Recorded the month's sales of $1,570,000 (excludes PST and GST), 80 percent on credit and 20 percent for cash. Sales amounts are subject to 7-percent PST and 5-percent GST Paid January's PST and GST to the appropriate authorities. 29 Feb. 5 28 Borrowed $3,000,000 on a 3-percent note payable that calls for annual install- ment payments of $300,000 principal plus interest. sets and Liabilities