Current Attempt in Progress Coronado Limited is a merchant operating in the province of Ontario, where the HST is 13% Coronado uses a perpetual inventory system. Transactions for the business are shown below May 1 3 5 7 12 31 Paid May rent to the landlord for the rental of a warehouse. The lease calls for monthly payments of $6,300 ph 13% HST Sold merchandise on account and shipped merchandise to Marvin Ltd. for $31,000, plus applicable sales s terms n/30, FOB shipping point. This merchandise cost Coronado $16,400 Granted Marvin Ltd. a sales allowance of $900 for defective merchandise purchased on May 3. No merchandise was returned. The merchandise had cost $700. Purchased on account from Macphee Ltd. merchandise for resale for $11,000, plus applicable tax Made a cash purchase at Home Depot of a desk for the shipping clerk. The price of the desk was 5600 before applicable taxes Paid the quarterly remittance of HST to the Receiver General. The balances in the accounts were as follows: HST Payable $7.440 and HST Recoverable $1,905