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Prepare the necessary journal entries for In Face Magazine for the following transactions. Explanations are...

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Accounting

Prepare the necessary journal entries for In Face Magazine for the following transactions. Explanations are not required. Do not combine the entries do each one separately (Hint 4 entries).

September 1, 2019: Sold one year of subscriptions. Collected $5,400 in cash including GST of 5% and PST of 7%.

December 31, 2019: Remitted GST and PST payments to Canada Revenue Agency.

December 31, 2019: Make the necessary year end adjustment for Unearned Subscription revenues.

Show in format below:

DATE ACCOUNT DEBIT CREDIT

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