A GST registered company sells cameras. All of it's suppliers are also GST registered. At the end of August 2020, the accounting records were destroyed. You need to create journal entries relating to the purchases and sales of inventory for the year ended 31 August 2020 Periodic inventory system is followed, gross method for recording purchases is used and the purchases and sales of inventory are on credit, terms 2/10 net 30.

1) credit sales (including GST) - $2,231,000

2) Sales allowances (excluding GST) - $40,000

3) Cash receipts from customers within the discount period - $2,254,000

4) Inventory purchases on credit (including GST) - $943000

5) Inventory Purchase returns and Allowances (excluding GST - $30000

6) Cash payments to suppliers within the discount period - $788900

Average gross profit is 40%

Prepare journal entries for year ended 31 August 2020