Question $1$ David has received requests from customers for laptop computers and other related items, so he has decided that now is the time to expand his computer service business to include the sale of electronic equipment. David plans to keep Electronic Thingz Pty Ltd as a very small business so that keeping track of inventory levels will not be a problem. The information you need for the alternative treatments for recording merchandising transactions in the general journal using either the periodic or perpetual inventory system$($s$)$ are as follows: $$ record the transactions using the Australian rate of $10\%$ GST Your chart of accounts and general ledger will need to be updated to include some of the following accounts: Inventory $(120),$ GST Paid $(150),$ GST Collected $(250),$ Sales Revenue $(410),$ Sales Returns Question $1$ David has received requests from customers for laptop computers and other related items, so he has decided that now is the time to expand his computer service business to include the sale of electronic equipment. David plans to keep Electronic Thingz Pty Ltd as a very small business so that keeping track of inventory levels will not be a problem. The information you need for the alternative treatments for recording merchandising transactions in the general journal using either the periodic or perpetual inventory system$($s$)$ are as follows: $$ record the transactions using the Australian rate of $10\%$ GST Your chart of accounts and general ledger will need to be updated to include some of the following accounts: Inventory $(120),$ GST Paid $(150),$ GST Collected $(250),$ Sales Revenue $(410),$ Sales Returns