The Good Guys engaged in the following transactions during April of the current year (all expenses,...

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The Good Guys engaged in the following transactions during April of the current year (all expenses, purchases and sales include GST at a rate of 10%, values to the nearest integer): April 18: Sold inventory on credit terms of 2/10 n/30, $5702(cost, net of GST, $3248). April 22: Received returned goods from the customer of the 18 June sale, $2280 (cost, net of GST. $1176). April 28: Received cash in full settlement of the account from the customer who purchased inventory on 18 April, less the return on 22 April. Journalise the transactions. Narrations are not required (9 marks available). The Good Guys engaged in the following transactions during April of the current year (all expenses, purchases and sales include GST at a rate of 10%, values to the nearest integer): April 18: Sold inventory on credit terms of 2/10 n/30, $5702(cost, net of GST, $3248). April 22: Received returned goods from the customer of the 18 June sale, $2280 (cost, net of GST. $1176). April 28: Received cash in full settlement of the account from the customer who purchased inventory on 18 April, less the return on 22 April. Journalise the transactions. Narrations are not required (9 marks available).

Answer rating: 100% (QA)

answer April 18 Dr Accounts receivable 5702 Cr Inventory 5702 April 22 Dr Inventory 2280 Cr A... View the full answer