You will need to use your accounting knowledge learned in this chapter and previous ones to create a General Journal; post to a Ledger; create a Trial Balance; and build an Income Statement and a Balance Sheet. This may seem easy, but you will need to account for HST Recoverable and HST Payable. HST is calculated at $13\%.$ Here are the following transactions for the month of January, $2024.$

$1.$ You personally invested $$5,000$ into the business.

$2.$ You purchase a tablet for $$500,$ plus HST$.$ Was paid with cash.

$3.$ You purchase supplies for $$100,$ plus HST$.$ Was paid with cash.

$4.$ You have your first customer. You complete the services and earn $$350$ in revenue and also charge HST $($plus HST$,$ you need to calculate$).$ This is a cash sale.

$5.$ You have your second customer, and complete $$500$ of services to be paid later $($A$/$R$),$ plus HST$.$

$6.$ You purchase a new piece of equipment for $$1,000$ plus HST on account.

$7.$ You need some personal cash. You take out $$50$ cash.

$8.$ A repeat customer, this time they pay in cash, $$700$ plus HST$.$

$9.$ Your second customer gives you $$200$ for services already performed; they will pay the rest later, HOPEFULLY!

$10.$ More revenue. Paid cash! $$1,500$ plus HST$.$

$11.$ You needed to advertise, and paid $$250$ cash for advertising, plus HST$.$

$12.$ You need to prepare a remittance to the government; make sure you look at both HST Recoverable and Payable! Paid cash.