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June 2 - 1 0 large frame backcountry packs were sold to East Robson Inc. for $ 1 0 , 0 0 0 + GST

June 2-10 large frame backcountry packs were sold to East Robson Inc. for $10,000+ GST + PST; on credit; Invoice No.1001
June 3- Bought and received glacier ice picks to be resold in store, from Everest Company; invoice cost of $15,000+ GST; sold on credit terms; Purchase Order No.5001; No PST charged since the manager provided the provincial vendor number to the supplier (this exempts GOT from collecting and remitting PST from merchandising items bought and then reworked and sold to another business).
June 4- Sold food items for backcountry camping to West Rupert Co. for $5,000+ GST + PST; on credit terms; Invoice No.1002
June 5- Received gear from Katmandu Ltd. at an invoice cost of $3,000+ GST on credit; Purchase Order No.5002.
June 6- Sold skiing equipment for cash to Tabor Equipment for $7,000+ GST + PST.
June 7- Received merchandise from Colton Manufacturing Company at a cost of $2,000+ GST; paid cash. 10% discount received to GOT when shipment is received.
June 8- Purchased a capital asset (store equipment) at a cost of $30,000+ GST + PST; gave a 90-day, 6 percent, interest-bearing note payable for the purchase price; assume date was June 1 for interest and depreciation calculations (at adjustments stage).
June 9- Sold a tract of land for $10,000+ GST which previously was used by the company; collected cash.
June 10- Collected the account receivable from West Rupert Co.; Invoice No.1002.10% discount received.
June 11- Paid $1,200 for a one-year insurance policy on property, plant and equipment starting June 1.
June 11- Obtained a $20,000 bank loan; signed a one-year, 7 percent, interest-bearing bank loan agreement. Assume date was June 1 for interest calculation in adjustments stage.
June 12- Paid the account payable to Katmandu Ltd. within the discount period. Purchase Order No.5002; received a 10% discount when paid.
June 13- Paid monthly rent to landlord of $8,000+ GST.
June 14- Sold merchandise for cash, $40,000+ GST + PST.
June 15- Purchased keychain merchandise from Logan Ltd. for cash, $14,000+ GST; INV 10021.
June 15- Paid May 31st source deductions to the Canada Revenue Agency (CRA) for employee CPP, EI, Tax withheld. Payable to the Receiver General in May FS note.
June 16- Sold snowboards on credit to Purdon Co. for $30,000+ GST + PST; Invoice No.1003
June 17- Received clothing merchandise on credit from Mountain Co-Op at an invoice cost of $8,000+ GST; Purchase Order No.5003.
June 18- Collected the account receivable from East Robson Inc. Invoice No.1001.
June 19- Paid the account payable to Everest Company. Purchase Order No.5001.
June 20- Returned merchandise purchased on account from Logan Ltd.; amount $4,000+ GST invoice 10021.
June 21- Received dividend revenue of $2,000 from the held-for-trading, Google share investments bought.
June 25- Paid May 31st PST payable to the Minister of Finance.
June 29- Purchased 500 held-for-trading shares of Ocean Electronics Inc. at $20 per share.
June 30- Paid May 31st GST payable to the Receiver General of Canada.
June 30- Paid monthly salaries: gross earnings $7,000 less; CPP $350; EI $200; Income taxes $1,000. Remember to include employer portions of CPP and EI and $70 for Worksafe BC premiums as well.

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