A B C D E F G H J K L M 2 3 During its first month of operations, the Drappery Collection Incorporated Company, located in Ontario Canada, which specializes in residential drappery sales, 4 completed the following transactions. Use the prepaid accounts where applicable. You can use a different account for ITCs and HST collected. 5 6 April 1 7 Melma Krevitz started the business by making a deposit into company bank account for $25,000, in exchange for 2,500 shares of $10 par value common stock. 8 9 April 1 The business purchased an existing business for $25,000 cash which represented the following values: 10 11 Computer equipment $ 5,800 12 Office furniture and equipment 6,500 13 Store furniture and equipment 12,700 14 $ 25,000 15 16 April 2 Received bank loan for $80,000, 3.85% annual interest. Payments are due on the last day of each month in the amount of $3,108. 17 18 April 2 Paid rent for the 3-month quarter April to June in the amount of $2,700 per month. 19 Paid the premium on a 1-year insurance policy, $3,300. 21 Purchased $785 in office supplies Purchased inventory on account for $24,125 + 13% HST. Terms 2/10, n30. 20 April 2 22 Apr 3 23 24 April 5 25 26 April 13 Hired two full-time staff members, Jali and Holly, both who earn $62,500 a year and are paid bi-weekly 27 beginning April 24, 2020. Assume basic payroll deductions for Ontario. They work five days a week (Mon-Fri).