Question: Question 4 : ( 2 0 marks ) Trenton Home Limited ( THL ) is a retailer operating in the province of Ontario, where the

 Question 4: (20 marks) Trenton Home Limited (THL) is a retailer

Question 4: (20 marks)
Trenton Home Limited (THL) is a retailer operating in the province of Ontario, where the HST rate is 13%. Trenton uses a perpetual inventory system. Transactions for the business in the month of November 2025 are shown below:
Nov 1 Paid November store rent to the landlord. Monthly rent payments are $5,500 plus HST.
Nov 4 Purchase merchandiseinventorxon account for Comet Industries. The merchandise cost $8,000 plus HST.
Nov 6 Retumed $500 of the merchandise to Comet Industries.
Nov7 Sold merchandise on account to Solar Star Company for $10,000 plus HST, terms n30, FOB shipping point. The merchandise was shipped to Solar Star. The cost of the merchandise to THL was $6,000.
Nov 12 Purchased a new laptop at Staples for the marketing manager. The price of the laptop was $1,200 plus HST. Raid cash.
Nov30 Paid the quarterly remittance of HST to the Receiver General. The balance in the accounts were as follows HST Payable $2,520 and W WT Recoverable $985.
Required:
Prepare the journal entries to record these transactions on the books of Trenton Home Limited.
operating in the province of Ontario, where the HST rate is 13%.

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