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Diego Company sells a wide range of goods through two retail stores operating in adjoining...

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Accounting

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Diego Company sells a wide range of goods through two retail stores operating in adjoining cities. Most purchases of goods for resale are on account. Occasionally, a short-term note payable is used to obtain cash for current use. The following transactions were selected from those occurring during 2021 a on January 10, 2021, purchased merchandise on credit, $33.250, the company uses a perpetual inventory system. b. On March 1, 2021, borrowed $239,000 cash from the bank and signed an interest-bearing note payable at the end of one year, with an annual interest rate of 8 percent payable at maturity c. On April 5, 2021, sold merchandise on credit. $75.300 this amount included GST of $4,500 and PST of $6,300. The cost of sales represents 60 percent of the sales invoice Required: 1. indicate the accounts affected and the amounts of the financial statement effects of these transactions (Enter any decrease in account balances with a minus sign.) 11 Shareholders' Equity $ Date Jan 10, 2021 Mar 1, 2021 Apr 5, 2021 Assets nventory Cash Accounts receivable 33 250 239 000 75,300 Liabilities Accounts payable Note payable GST payable PST payable 33,250 239.000 4500 6.300 2. What amount of cash is paid on the maturity date of the note? Cash paid

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