Prepare journal entires, tax country is Canada and state is Quebec 1-Received an invoice for merchandise purchased

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Prepare journal entires, tax country is Canada and state is Quebec

1-Received an invoice for merchandise purchased from H.P.S. Ltd.. Terms: 2/10, n30. Date: November 30, 20X4. Total: $9 975.00 plus the appropriate taxes.

2-Le Mur du Son Ltd. wishes to increase its percentage of common shares of Sonex Inc. to 10 %. The company purchases 3 000 new shares at a price of $10.50 per share. The transaction will be recorded upon receipt of the invoice from the broker.

3-A short term bank loan of $20 000 was taken at the National Bank. The annual interest rate is 15 %. Starting December 31, this loan will be repaid in monthly installments.

4-Cheque no. 400 was issued to Techno-Logic Inc. to settle our account. A 2% discount was taken.

5-Signed a contract with Hebdo-Son Inc. for advertisements that will appear in their magazine in December, January and February. Cheque no. 401 for $6 000.00 plus the appropriate taxes was issued.