On 1 October, Cooper's Appliance purchased ($ 8800) of goods including GST for resale. On 11 October,

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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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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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