Question: Need help with this account question. thanks! You must record your answer to this question in the space below question on this page. Answers recorded

Need help with this account question. thanks!

You must record your answer to this question in the space below question on this page. Answers recorded elsewhere will not be marked. QUESTION 3 18 MARKS Singapore Book Store (SBS) sells SONY II calculators mostly purchased by college students. Each calculator is purchased at a standard price of $25. The selling price of each calculator is $47. SBS uses a perpetual inventory system. On 1 September 2016, SBS had in stock 50 calculators valued at $25 each. Following transactions occurred during the month of September \begin{tabular}{r|l} Sep-12 & P \\ \hline 18 & S \\ \hline 25 & R \\ 29 & 2 \\ \hline Required: \end{tabular} a) Prepare general journal entries to record Ignore GST. b) Prepare an Income Statement Extract of Profit for the month of September 2016 . Record YOUR ANSWER (below)

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