View Policies Show Attempt History Current Attempt in Progress On February 28, 2021, Vaughn Ltd's general ledger contained the following liability accounts: The following selected transactions occurred during the month: Mar. 2. Issued a three-month, 6% note payable in exchange for an account payable in the amount of $12,000. interest is due at maturity. 3 Sold inventory for cash totalling $45,000, plus 13% HST. The cost of goods sold was $24.000. Vaughn uses a perpetual inventory system. 4 Received the property tax bill of $18,000 for the calendat year. It is payable on May 31. (Hint No accrual has been The following selected transactions occurred during the monthe Mar. 2 Issued a three-month, 6% note payable in exchange for an account payable in the amount of $12,000. Interest is due at maturity. 3. Sold inventory for cash totalling $45,000, plus 13% HST. The cost of goods sold was $24,000. Vaughn usesa perpetual inventory system. 4. Received the property tax bill of $18,000 for the calendar year. It is payable on May 31. (Hint: No accrual has heen recorded during the year) 12. Provided services for customers worth $10,000 plus HST of 13%. The compary recelved payment in full for services and HST. 16 Remitted $9,718 to the government for amounts owing from the February payroll for employee payroll deductions of $7.520 (CPP $1,540, El $470, and employee income tax $5.510 ) and for employee benefits of $2,198 (CPP $1,540 and El$658i. 27 Paid $25.000 to trade creditors on account. 30 Paid employees for the menth. Gross salaries totalled $15,000 and payroll deductions included CPP of 5801 , El of $259 and employee income tax of $5,800. Employee benefits included CPP of $801 and El of $363. 31 Remitted $5,800 HST pertaining to sales tax coliected in February. Question 1 of 1 13.33/20 VAUGHNLTD. Statement of Financial Position (partial) For the Year Ended March 31.2021 Current liabilities Total current liabilities