Blossom Industries has a December 31 year-end and operates in the province of Ontario where it is
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Blossom Industries has a December 31 year-end and operates in the province of Ontario where it is subject to 13% HST. Blossom made sales on account of $190,000 (excluding taxes) and pays taxes to the Receiver General for Canada at the end of its fiscal year.
Prepare the entries to record the sales and the payment of any HST owing to the government. Ignore any cost of goods sold entry.
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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