Farber’s Fabric Co. of Yellowknife uses a purchases journal and a general journal (page 32) to record the following transactions (continued from July). The GST rate is 5%:

The fabric store has decided to keep a separate column for the purchases of supplies in the purchases journal and also has a separate column for GST. The account balances as of August 1, 2012, are as follows:

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Required
a. Journalize the transactions.
b. Post and record as appropriate.
c. Prepare a schedule of accounts payable as of August 31, 2012.