Tony owns a clothing store in Melbourne. The following transactions occurred in the September 2022 quarter: Cash sales $65,000 Credit sales (accounts receivable customers) 120,000 Cash purchases 50,000 Credit purchases to suppliers (accounts payable customers) 55,000 Payment of accounts payables 68,000 Wages paid to employees 24,000 Interest received 200 Interest paid 1,200 All applicable transactions include GST. Required: Calculate the GST payable for the September quarter on a cash basis?

Answer rating: 100% (QA)

To calculate the GST payable for the September quarter on a cash basis we need to consider the GST c... View the full answer