Fancy has just completed its first quarter of operations. Below are transactions that have not yet been recorded. Prepare the journal entries listed...

Fancy has just completed its first quarter of operations. Below are transactions that have not yet been recorded. Prepare the journal entries listed below.

Jan 1 Jan 15

Mar 1 Apr 1

Apr 15 Apr 29

Jun 1

Pre-tax cash sales amounted to $75,000. HST is collected on all sales at a rate of 13%.

Signed a three month note for $12,000 to extend amounts owing on account to Threads Inc. Interest is 6% annually and due at maturity.

Received the annual property tax bill for $7,500 payable on June 1.

Paid salaries of $10,000; of this amount $495 is CPP, $178 is EI and $3,465 is for income taxes (record the employer portion as well).

Paid the note due.

A customer sued Fancy for $200,000. Legal counsel has advised that it is unlikely damages will be awarded.

Paid the property taxes bill in full.