The following are selected transactions of Swifty Department Store Ltd, (SDSL) for the current year ended December 31. SDSL is a private company operating in the province of Manitoba, where PST is 7% and GST is 5% SDSL follows ASPE and has a periodic inventory system. 1. On February 2. SDSL placed an order to buy goods for resale from Hashmani Limited for $48.000 plus GST. Terms of purchase are fo.b, destination, net 15. The goods arrived February 6 and the invoice was paid on February 20. (Hint: Inventory for resale is purchased PST-exempt.) 2. On April 1.SDSL purchased a truck for $45,000 from Schuler Motors Limited, paying $9,900 cash and signing aone-year, 8% note for the balance of the purchase price. Provincial sales tax of 8% and GST of 5% were charged by the supplier on the purchase price. 3. On May 1,SD5L borrowed $71.000 from first Provincial Bank by signing a $82.100 non-interest,bearing note due one year from May 1. 4. On June 30 and December 31. SDSL remitted cheques for $18,700 each as instalments on its current ytar tax liablify. 5. On August 14, SDSU Soard of directors declared a $19,000 cash dividend that was payaiole on Soptember 10 to shareholders of record on August 31 6. On December 5, SDSL recelved $1,300 from Jefferson Led. us a deposition a trailer chat feffersonisusing for an arnice mext. 7. On December 10,SDSL purchased new furniture and fixtures for $13,000 on account. Provincial sales tax of 7% and GST of 5% were charged by the supplier on the purchase price. 8. During December, cash sales of $86,000 were recorded, plus 7% provincial sales tax and 5% GST that must be remitted by the 15 th day of the following month. Both taxes are levied on the sale amount to the customer Ignore any cost of goods sold: 9. SDSL's lease for its store premises calls for a $2,600 monthly rental payment plus 39 of net sales. The payment is due one week after month end. 10, SDSL was advised during the month of December that it is legally required to restore the area (considered a land improvement) surrounding one of its new store parking lots. When the store is closed in 12 years. SDSL. estimates that the fair value of this obligation at December 31 is $84,000. 11. The corporate tax return indicated taxable income of $204,700. SDSt's income tax rate is 20%. Prepare all the journal entries necessary to record the above transactions when they occurred and any adjusting journal entries (except for depreciation expense) relative to the transactions that would be required to present financial statements at December 31 in accordance with GAAP. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Llist all debit entries before credit entries. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts. Record joumal entries in the order presented in the problem.)