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Lisa Ltd lodges quarterly business activity statements with the taxation authority. Narrations are not required for the following entries: Required Record the journal entries during

Lisa Ltd lodges quarterly business activity statements with the taxation authority.

Narrations are not required for the following entries:

Required

  1. Record the journal entries during the March 2019 quarter for sales $6600 (including GST) and inventory purchase $1210 (including GST). Note: Both sales and purchases are on account. Perpetual inventory system is applied. (3 marks)
  2. What is the journal entry to discharge the GST liability? (2 marks)

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