TASK 1 - 10 Errors William operates a business with an annual turnover of $1,500,000. Details for January 2015 trading are as follows (all amounts include GST): Cash Sales 19,591 Cash Purchases 8,800 Credit Sales Invoiced Cash Received B Hinde 5,500 C Moore 7,700 3,300 D Licheous 16,500 9,900 Credit Purchases Invoiced Cash Paid B Brown 4,400 8,800 W White 14,300 7,700 B Black 1,650 3,300 Required: a) Discuss William's options regarding using the cash or accruals method of accounting for GST (2 Errors) b) Calculate William's GST liability under both cash and accrual methods for the month of January 2015 (8 Errors)