q3b

Wildhorse Company had the following selected transactions. Feb. 2 Purchases supplies from Supplies RUs on account for $2,400. 10 Cash register sales total $40,600, plus 5% GST and 7% PST. Ignore any cost of goods sold entry. 15 Signs a $32,900, six-month, 6%-interest-bearing note payable to MidiBank and receives $32,900 in cash. 21 The payroll for the previous two weeks consists of salaries of $47,000. All sataries are subject to CPP of $2.562. E of $743, and income tax of $8,400. The salaries are paid on February 28 . The employer's payroll expense is also recorded 28 Accrues interest on the MidiBank note payable. (Hint: Round to the nearest cent.) 28 Accrues the required warranty provision because some of the sales were made under warranty. Of the units sold under warranty, 330 are expected to become defective. Repair costs are estimated to be $40 per unit, 28 Pays employees the salaries for the pay period ended February 21. Mar. 1 Remits the sales taxes to the province and GST to the Receiver General for the February 10 sales. 2 Makes the payment to Supplies R Us from the February purchase. 15 Remits the payroll taxes owing from the February 21 payroll to the Receiver General. Journalize the February and March transactions, (Credit occount titles ore automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the dccount tities and enter O for the anounts. List all deblt entries before credit entries. Record joumal entries in the order presented in the problem. Round interest expense to 2 decimal plices, es. 15.25 and other anisurs to O decimal places, es. 5,125 J (Record salaries expense.) (Record employer benefits expense.) (Accrue interest expense.) (To accrue warranty expense.) Question 3 of 24 (1) 1:2s:2 122 : (Pay salaries owing)