Question1. The following selected transactions relate to liabilities of Classic Coverings for January 2015. Classic Coverings's fiscal year ends on January 31. Prepare the appropriate journal entries for these transactions. Note that the sales revenues were exclusive of sales taxes. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places. a) On January 1, 2015, received $7,000 from JenStar toward the purchase of a $84,000 truck to be delivered on March 9, 2016. General Journal Date Account/Explanation DR CR b) During January, received $25,400 of refundable deposits relating to containers used to transport equipment parts. Record the journal on January 31. General Journal Date Account/Explanation DR CR c) During January, credit sales totaled $800,000. The provincial sales tax rate is 8% and the goods and services tax rate is 5%. (This is a summary journal entry for the many individual sales transactions for the period.) Record the journal on January 31. General Journal Date Account/Explanation DR CR