mester 3 2021 Taxation Law - T3 2021 Week 7 - Learning Materials Tutorial Activity (Ass TUTORIAL PARTICIPATION QUESTION 2 (Refer to slides 34 & 37) Frank is the owner and operator of a bicycle shop in Adelaide. During the December 2020 pay period, the business recorded the following transactions: $ Amount (Includes GST where applicable) . Cash sales of trading stock, plus services 30,000 . Cash purchases of trading stock from local suppliers 17,000 Bad Debt written off when an Accounts Receivable customer declared bankruptcy 3,000 Trading stock bought on credit (Accounts Payable) 15,000 Employee wages & superannuation paid 9,000 Credit sales of trading stock to customers (Accounts Receivable) 127,000 . Accounts Receivable payments collected 19,000 Payments of business operating expenses including rent and utilities 25,000 Wage received from Adelaide TAFE College where Frank teaches a class 4,000 Required: Calculate Frank's GST payable for the Dec 2020 pay period: (a) If Frank used a Cash Accounting system (b) If Frank used an Accruals Accounting system