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Bramble Inc. operates in a province, where it is subject to GST of 5%. In August, Bramblepurchased $34,000 of merchandise inventory, and had sales of

Bramble Inc. operates in a province, where it is subject to GST of 5%. In August, Bramblepurchased $34,000 of merchandise inventory, and had sales of $40,500 on account. Brambleuses a periodic inventory system.

Prepare the summary entry to record the purchases for August. (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.)

Account Titles and Explanation

Debit

Credit

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Prepare the summary entry to record sales for August. (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.)

Account Titles and Explanation

Debit

Credit

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Prepare the subsequent entry to record the payment of any GST owing to the Receiver General for Canada. (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.)

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