Question 17 Not yet answered Marked out of 12.00 plag question Fantastic Fashions has just completed its first quarter of operations. Below are transactions that have not yet been recorded. Prepare the journal entries listed below. (12 marks) SHOW YOUR CALCULATIONS Jan 1 Pre-tax cash sales amounted to $75,000. HST is collected on all sales at a rate of 13%. Jan 15 Signed a three month note for $12,000 to extend amounts owing on account to Trendy Taste Inc. Interest is 6% annually and due at maturity Mar 1 Received the annual property tax bill for $7.500 payable on June 1. Apr 1 Paid salaries of $10.000; of this amount 5495 is CPP 5178 is El and $3,465 is for income taxes trecord the employer portion as well). Apr 15 Paid the note due Apr 29 A customer sued Fantastic Fashions for $200 000. Legal counsel has advised that it is unlikely damages will be awarded Paid the property taxes bill in full Jon1