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Account Titles Debit Credit Equipment 1,900 GST Payable Accounts Payable JMM Enterprises purchased cash registers for its retailing business at a cost of $1,900+tax. (a)
Account Titles Debit Credit Equipment 1,900 GST Payable Accounts Payable JMM Enterprises purchased cash registers for its retailing business at a cost of $1,900+tax. (a) Your answer is partially correct. Prepare the journal entry to record the purchase of the equipment on account, where JMM is located in a province with GST only (5\%). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Prepare the journal entry to record the purchase of the equipment on account, where JMM is located in a province with GST (5\%) and PST (5\%). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
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