The following selected transactios and events of Ashmore Ltd. Were completed during the accounting year just ended, 31 December 20X5. Interest rates reflect market rates unless indicated. a b. C d e f h L J On 1 June, the company borrowed $54,000 in cash from the bank on a demand basis. The interest rate was 5% to be paid on the anniversary date of the loan. Merchandise was purchased on account, a $20,000, one year 6% interest-bearing note, dated 1 April 20X5, was given to the supplier. Interest is paid when the amount is due on 1 April 20X6 Merchandise was purchased on account, a two year, $18,000, 2% note dated 1 February 20X5 was given to the supplier Interest is due annually on 1 February. The going interest rate for this term and risk was 8%. Use the gross method to record the note payable. A supplier delivered goods on account costing US$22,000. The exchange rate was US$1 = Cnd$0.96 at that time. Ashmore has been sued by a customer for $450,000. The legal team confidently believes that there is an 85% chance that Ashmore will successfully defend itself New legislative requirements came into force at the beginning of this year regarding environmental remediation. Ashmore believes it will have to pay $90,000 in nine years time when the company vacates leased premises. The going interest rate for this term and risk was 8%. Payroll records showed that the following amounts are unpaid: Gross wages $130,000; Income tax $33,000, EI $6,100, CPP $5,500, Union Dues $3,500 The employer portion of EI and CPP are recorded. Remittances were income tax, $31,350, EI $10,250, CPP $9,720; union dues $1,450. Cash dividends declared but not yet paid were $23,500. Accrue appropriate interest at 31 December, and adjust the foreign-denominated payable to the year end rate, USS1-Cnd$0.94 Give the entry or entries for each of the above transactions and events, if needed. (if not needed, explain why) Prepare a list (title and amount) of the liabilities of Ashmore at 31 December 20X5