Appleton Electronics Company purchases merchandise inventory from several suppliers. On October 1, 2020, Appleton Electronics purchased from

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Appleton Electronics Company purchases merchandise inventory from several suppliers. On October 1, 2020, Appleton Electronics purchased from Digital Wiring $40,000 of inventory on account. On November 10, 2020, Appleton Electronics sold inventory to Disco Sound Company for $16,000 cash, which included $10,000 COGS for the inventory. On December 15, 2020 Appleton Electronics remitted the applicable PST and GST or HST.

Required

Journalize Appleton Electronics Company transactions on October 1, 2020, November 10, 2020, and December 15, 2020, including applicable PST and GST or HST assuming it is located in:

a. Nova Scotia

b. Saskatchewan

c. Yukon

Use the PST, GST, and HST rates in Exhibit 10.6.

Exhibit 10.6

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Related Book For  answer-question

Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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