Please prepare T accounts.

Question 3 Wascana Ltd. is a small wholesaler of restaurant supplies. The company's post-closing trial balance at December 31, 2017, the end of its fiscal year, is presented below: Credit 23,400 WASCANA LTD. Post-Closing Trial Balance December 31, 2017 Debit Cash $78,000 Accounts receivable 468,000 Allowance for doubtful accounts Inventory 352,000 Equipment 1,800,000 Accumulated depreciation equipment Accounts payable Interest payable Employee income tax payable CPP payable EI payable Provisions Unearned revenue Bank loan payable Common shares Retained earnings $2,698,000 480,000 289,000 3,000 57,000 26,000 10,000 34,000 13,000 900,000 59,000 803,600 $2,698,000 The company had the following transactions during January 2018. When recording these transactions, use the item number listed in lieu of the date and also use that same item number if recording a subsequent adjustment pertaining to that item. 1. 2. 3. 4. 5. 6a. 6b. 7. The bank loan bears interest at 4% and requires monthly payments on the first day of the month consisting of a fixed principal, payment of $6,000, plus interest, which was properly accrued at the end of 2017. A loan payment was made on January 1, 2018. Accrue interest on the bank loan for the month of January 2018. Early in January 2018, the company paid for a one-year insurance policy on equipment for $25,200. Equipment has a useful life of five years and is depreciated on a double-diminishing-balance basis. All of the payroll-related liabilities were paid off in early January 2018. At the end of January, salaries for that month were paid out. Gross salaries were $250,000 and amounts withheld from the employees' paycheques included the related employee income tax of $57,000, CPP of $13,000, and EI of $4,700. In addition to these amounts, the employer was required to contribute $13,000 to CPP and $6,580 to EI. The salaries were paid but no amounts were remitted to the government regarding the salaries for January. Paid a $9,000 income tax instalment