QUESTION 1 Walter White opened a bookshop on 1 April 2020. The business trades under the name of "Best Books Warehouse." and uses a perpetual inventory system to account for its inventory. The business is registered for GST. All credit sales are made on the following terms: 3/10, n/30. The following selected information is available for "Best Books Warehouse." for the week ended 7 April 2020: Purchased 400 books on account for $30 (plus GST) each from 'Canyon Publishes'. Credit Terms: 2/15, n/30. 1st April 2nd April Returned 20 books due to an error in the order to 'Canyon Publishes'. 4th April Sold 160 books on account to Katzman Booksellers for $ 40 plus GST each. 7th April Katzman Booksellers settled their bill within the discount period. REQUIRED: Prepare the journal entries to record each transaction in April 2020 (Narrations not required). QUESTION 1 Walter White opened a bookshop on 1 April 2020. The business trades under the name of "Best Books Warehouse." and uses a perpetual inventory system to account for its inventory. The business is registered for GST. All credit sales are made on the following terms: 3/10, n/30. The following selected information is available for "Best Books Warehouse." for the week ended 7 April 2020: Purchased 400 books on account for $30 (plus GST) each from 'Canyon Publishes'. Credit Terms: 2/15, n/30. 1st April 2nd April Returned 20 books due to an error in the order to 'Canyon Publishes'. 4th April Sold 160 books on account to Katzman Booksellers for $ 40 plus GST each. 7th April Katzman Booksellers settled their bill within the discount period. REQUIRED: Prepare the journal entries to record each transaction in April 2020 (Narrations not required)