On 1 October, Cooper's Appliance purchased ($ 8800) of goods including GST for resale. On 11 October,
Question:
On 1 October, Cooper's Appliance purchased \(\$ 8800\) of goods including GST for resale. On 11 October, it sold \(\$ 4500\) of these goods to customers at a selling price of \(\$ 6600\) including GST. The business uses a perpetual inventory system, and all transactions were for cash.
Required:
Prepare account column entries to record this information.
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Related Book For 
Accounting Information For Business Decisions
ISBN: 9780170253703
2nd Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
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