Retur 3 Diego Company sells a wide range of goods through two retail stores operating in adjoining cities. Most purchases of goods for resale are on account Occasionally, a short-term note payable is used to obtain cash for current use. The following transactions were selected from those occurring during 2021: 25 points 00.25.51 a. On January 10, 2021. purchased merchandise on credit, $38,200, the company uses a perpetual inventory system b. On March 1, 2021, borrowed $245,000 cash from the bank and signed an interest-bearing note payable at the end of one year, with an annual interest rate of 5 percent payable at maturity c. On April 5, 2021, sold merchandise on credit, $70,300; this amount included GST of $3,500 and PST of $5,300. The cost of sales represents 90 percent of the sales invoice Required: 1. Indicate the accounts affected and the amounts of the financial statement effects of these transactions. (Enter any decrease in account balances with a minus sign.) * Answer is complete but not entirely correct. Liabilities Assets Date Shareholders Equity Inventory Jan 10. 2021 Mar 1.2021 Apr 5 2021 Cash $ 38,200 245.000 70,300 Accounts payable Note payable GST payable PST payable $ 38,200 245 000 3.500 5,300 Revenues Accounts receivable Inventory 61 500 71.190 X Cost of sales (63,270) X