Question
Consider the following transactions that occurred in January for Pushki Limited. Assume that GST is included in the amounts shown, unless stated otherwise. Jan 3
Consider the following transactions that occurred in January for Pushki Limited. Assume that GST is included in the amounts shown, unless stated otherwise.
Jan 3 Purchased inventory on terms 1/15, n/eom (end of month), $5500. 4 Purchased inventory for cash of $1870. 6 Returned $550 of inventory from 4 January purchase. 8 Sold goods on terms of 2/15, n/35 of $6600, inclusive of GST, that cost $2640 net of GST. 10 Paid for goods purchased 3 January. 12 Received goods from 8 January sale of $440 that cost $160. The latter amount excludes GST. 23 Received payment from 8 January customer
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