21. 1. Aaron sold his large lounge chair for $1000. He incurred costs of $100 for advertising and $120 for hiring a van to transport the chair to the buyer. What is the net realisable value? $1100 $780 $1000 $420 D 22 Hammer Hardware sold goods to James Brown on credit at a price of $2,750.00 including GST. What is the correct accounting entry to record this transaction in Hammer Hardware's books? Debit Accounts Receivable $2,500; debit GST Collections $250; credit Sales $2,750. Debit Accounts Receivable $2,500; credit Sales $2,500. Debit Accounts Receivable $2,750; credit Sales $2,500; credit GST Collections $250. Debit Accounts Receivable $2,750; credit Sales $2,750, 23 A company just starting business made the following four inventory purchases in June: June 1 150 units $ 780 June 10 200 units 1,170 June 15 200 units 1,260 June 28 150 units 990 $4,200 A physical count of inventory 30 reveals that there are 250 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is: $4,200 $1,500 $1,150 $2,700 24. Owens Office Supplies collected $300 that had previously been recorded in accounts receivable. Recording this event in the accounting system caused: total assets to remain the same. assets to increase. assets to decrease. revenue to increase