Use the remittances received by P Damico (see figure 5.41). Assume P Damico uses the perpetual inventory system and the cost of the inventory sold as cash sales is a constant 60% of the sales value, not the amount received. Prepare and balance the journal (or prepare the general journal), post to the general ledger and prepare a trial balance.

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Remittance Received 959 3 August 2022 P Rolf Cash sale of goods GST @ 10% Remittance Received 518 8 August 2022 ANP Limited Interest received GST @ 10% 210.00 21.00 $231.00 GST @ 10% 421.00 0.00 $421.00 Remittance Received 437 25 August 2022 CRA Ltd Dividend received 158.00 0.00 $158.00 Remittance Received 912 3 August 2022 Cash Sale of inventory GST a 10% Remittance Received 151 10 August 2022 GST @ 10% C Daniel Cash sale 680.00 68.00 $748.00 Julie & James Received rent GST a 10% Remittance Received 322 28 August 2022 150.00 15.00 $165.00 490.00 49.00 $539.00 Remittance Received 027 3 August 2022 Read n Resell Commission Received GST @ 10% Remittance Received 213 25 August 2022 Ernst & Henry Rent received GST @ 10% 450.00 45.00 $495.00 GST @ 10% Remittance Received 441 28 August 2022 V Stark Cash sale 990.00 99.00 $1 089.00 270.00 27.00 $297.00