A list of transactions follows. 1. Purchased inventory (perpetual system) on account. 2. Extended payment terms of the account payable in item 1 by replacing the account payable with the issue of a nine-month, 5% note payable. 3. Recorded accrued interest on the note payable from item 2. 4. Recorded repayment of the note and accrued interest from items 2 and 3. 5. Recorded cash received from sale of services, plus HST. 6. Recorded salaries expense, employee payroll deductions, and payment of the payroll to employees. 7. Recorded employer's share of employee benefits. 8. Recorded a receipt of cash for services that will be performed in the future. 9. Recorded the performance of services for item 8. 10. Borrowed cash on a line of credit 
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