RECORD TRANSACTIONS

On January 1, 2021, Crane Software Company's general ledger contained these liability accounts: Accounts Payable $49,600 Unearned RevenueLoyalty Program 3,900 CPP Payable 1,230 El Payable 635 HST Payable 8,530 Income Tax Payable 3,500 Unearned Revenue 12,700 Vacation Pay Payable 8,550 In January, the following selected transactions occurred: Jan. 2 5 12 14 15 17 20 29 31 31 Issued 3 $37,500, four-month, 7% note. Interest is payable at maturity. Sold merchandise for $12,800 cash, plus 13% HST. The cost of this sale was $4,100. Crane Software uses a perpetual inventory system. Provided services for customers who had paid $9,600 cash in advance. The payment included HST of $1,104. Paid the Receiver General (federal government) for sales taxes collected in December 2020. Paid the Receiver General for amounts owing from the December payroll for CPP, El, and income tax. Paid $14,950 to creditors on account. Sold 7,020 units of a new product on account for $60 per unit, plus 13% HST. This new product has a one-year warranty. It is estimated that 8% of the units sold will be returned for repair at an average cost of $10 per unit. The cost of this sale was $30 per unit. During the month, provided $2,900 of services for customers who redeemed their customer loyalty rewards. Assume that HST of $335 is included in the $2,900. Issued 32,550 loyalty rewards points worth $1 each. Based on past experience, 20% of these points are expected to be redeemed. Cash sales related to the issuance of the loyalty points were $250,600. Recorded and paid the monthly payroll. Gross salaries were $20,950. Amounts withheld included CPP of $829, El of $355, and inrnmp fay nf $2 '31 3