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The following selected transactions relate to labilities of Chicago Guns Corporation for 2021. Chicago's fiscal year ends on December 31 and unes a periodic Inventory

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The following selected transactions relate to labilities of Chicago Guns Corporation for 2021. Chicago's fiscal year ends on December 31 and unes a periodic Inventory wstem 1. On lanuary 15. Chicago received $7.000 from Henry Construction toward the purchase of 566.000 of plate glass to be delivered on February 6. 2. On February 3, Chicago received 56.700 of refundable deposits relating to containers used to transports components 3. Durin December credit sales totaled 5700.000. The state sales tax rate is 5% and the local sales tax rate is 2(This a summary journal entry for the many individual sales transactions for the periods Required Pronaries for the above transactions

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