The following are selected transactions of Blue SpruceDepartment Store Ltd. for the current year ended December 31. BlueSpruce is a private company operating in the province of Manitobawhere PST is 8% and GST is 5%. PDSL follows ASPE and has a periodicinventory system.

1.		On February 2, Blue Spruce placed an order to buy goods forresale from Hashmani Limited for $49,000 plus GST. Terms ofpurchase are f.o.b. destination, net 15. The goods arrived February6 and the invoice was paid on February 20. (Hint:Inventory for resale is purchased PST exempt.)
2.		On April 1, Blue Spruce purchased a truck for $49,000 fromSchuler Motors Limited, paying $11,270 cash and signing a one-year,8% note for the balance of the purchase price. Provincial sales taxof 8% and GST of 5% were charged by the supplier on the purchaseprice.
3.		On May 1, Blue Spruce borrowed $73,000 from First ProvincialBank by signing a $82,900 non–interest-bearing note due one yearfrom May 1.
4.		On June 30 and December 31, Blue Spruce remitted cheques for$20,200 each as instalments on its current year tax liability.
5.		On August 14, Blue Spruce's board of directors declared a$19,000 cash dividend that was payable on September 10 toshareholders of record on August 31.
6.		On December 5, Blue Spruce received $1,700 from Jefferson Ltd.as a deposit on a trailer that Jefferson is using for an officemove. The deposit is to be returned to Jefferson after it returnsthe trailer in good condition on January 15. (Hint: Usethe account Refund Liability.)
7.		On December 10, Blue Spruce purchased new furniture andfixtures for $8,000 on account. Provincial sales tax of 8% and GSTof 5% were charged by the supplier on the purchase price.
8.		During December, cash sales of $80,000 were recorded, plus 8%provincial sales tax and 5% GST that must be remitted by the 15thday of the following month. Both taxes are levied on the saleamount to the customer. Ignore any cost of goods sold.
9.		Blue Spruce’s lease for its store premises calls for a $2,800monthly rental payment plus 3% of net sales. The payment is due oneweek after month end.
10.		Blue Spruce was advised during the month of December that it islegally required to restore the area (considered a landimprovement) surrounding one of its new store parking lots, whenthe store is closed in 12 years. Blue Spruce estimates that thefair value of this obligation at December 31 is $93,000.
11.		The corporate tax return indicated taxable income of $206,200.Blue Spruce’s income tax rate is 20%.

Prepare all the journal entries necessary to record the abovetransactions when they occurred and any adjusting journal entriesrelative to the transactions that would be required to presentfinancial statements at December 31 in accordance with GAAP.

Identify the current liabilities that will be reported on BlueSpruce's December 31 SFP, and indicate the amount of eachone.

Blue Spruce Department Store Ltd. Balance Sheet (Partial) December 31
Intangible AssetsShort-TermInvestmentsTotal Current LiabilitiesTotal IntangibleAssetsLong-Term InvestmentsTotal AssetsCurrent LiabilitiesTotalLiabilities and Shareholders' EquityTotal Property, Plant andEquipmentTotal Current AssetsProperty, Plant and EquipmentCurrentAssetsTotal Shareholders' EquityShareholders' Equity
Notes ReceivableRent PayableRefundLiabilityNotes Payable (Schuler Motors Ltd.)InterestReceivableAccounts ReceivableSales Tax PayableRentReceivableInterest PayableGST PayableNotes Payable (FirstProvincial Bank)CashGST ReceivableIncome Tax ReceivableIncome TaxPayableAccounts Payable		$
CashIncome Tax PayableSales TaxPayableAccounts ReceivableRent PayableNotes Payable (Schuler MotorsLtd.)Income Tax ReceivableGST ReceivableInterest PayableNotesPayable (First Provincial Bank)Notes ReceivableInterestReceivableRent ReceivableRefund LiabilityAccounts PayableGSTPayable
Refund LiabilityNotes Payable (SchulerMotors Ltd.)Income Tax PayableNotes Payable (First ProvincialBank)Interest PayableSales Tax PayableInterest ReceivableIncome TaxReceivableGST ReceivableCashRent ReceivableAccounts ReceivableGSTPayableAccounts PayableNotes ReceivableRent Payable
Interest ReceivableGST ReceivableInterestPayableIncome Tax PayableSales Tax PayableNotes Payable (SchulerMotors Ltd.)Notes ReceivableRent PayableIncome Tax ReceivableNotesPayable (First Provincial Bank)Accounts ReceivableRefundLiabilityGST PayableAccounts PayableCashRent Receivable
GST PayableCashNotes ReceivableNotesPayable (First Provincial Bank)Income Tax PayableNotes Payable(Schuler Motors Ltd.)Income Tax ReceivableAccountsReceivableInterest ReceivableSales Tax PayableAccountsPayableRefund LiabilityRent ReceivableRent PayableInterestPayableGST Receivable
Income Tax PayableAccountsReceivableNotes ReceivableRefund LiabilityAccounts PayableNotesPayable (First Provincial Bank)Interest ReceivableCashGSTReceivableIncome Tax ReceivableRent ReceivableRent PayableGSTPayableSales Tax PayableInterest PayableNotes Payable (SchulerMotors Ltd.)
Accounts ReceivableSales TaxPayableInterest PayableCashInterest ReceivableRent ReceivableNotesPayable (First Provincial Bank)Notes ReceivableRefund LiabilityGSTPayableIncome Tax ReceivableIncome Tax PayableRent PayableGSTReceivableAccounts PayableNotes Payable (Schuler Motors Ltd.)
Refund LiabilityGST ReceivableInterestReceivableIncome Tax PayableGST PayableSales TaxPayableCashInterest PayableNotes Payable (Schuler Motors Ltd.)RentReceivableAccounts ReceivableRent PayableNotes Payable (FirstProvincial Bank)Accounts PayableNotes ReceivableIncome TaxReceivable
Current LiabilitiesTotal CurrentLiabilitiesLong-Term InvestmentsTotal Liabilities and Shareholders'EquityTotal Current AssetsTotal Shareholders' EquityTotalAssetsProperty, Plant and EquipmentShareholders' EquityShort-TermInvestmentsTotal Property, Plant and EquipmentTotal IntangibleAssetsIntangible AssetsCurrent Assets		$