Ariella Corp. had the following transactions during May 2020. All transactions are in Canadian dollars except where indicated. All sales include a 2 year warranty, accruals for warranty are done on a monthly basis. Ariella uses a periodic inventory system. May 2 Sales to Canadian customer on account $623,000 plus 5% GST. Sales to US, customer on account US $540,000. There is no GST on the sale. US dollar was worth Cdn $1.03 on this date May 6 May 12 May 16 May 24 May 31 May 31 the month May 31 Required: Inventory purchased on account, $360,000 plus 5% GST. Collected in full from Canadian customer Warranty work during the month totaled $7,530 for labour and $2,180 for parts consumed from inventory. At the end of the month, Ariella Corp has not yet received payment from the US customer. The exchange rate is Cdn 1.05. Warranty costs are expected to be 2% of CDN equivalent dollar sales in Remitted net GST for the month Prepare all the necessary journal entries for the above transactions. (13 marks)