Toy Retailer operates in a province where HST 11% is charged on all goods and services. During
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Question:
Toy Retailer operates in a province where HST 11% is charged on all goods and services. During October 2020, it had the following transactions.
Oct 12 | Sold inventory to a customer for $1,300 plus HST for cash. The inventory costs $715. |
Oct 15 | Sold inventory to a customer for $6,200 plus HST on account. The inventory costs $2,800. |
Record the transactions for October 2020. The company uses a perpetual inventory system.
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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