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Modern Electronics Company purchases merchandise inventory from several suppliers. On April 1, 2023, Modern Electronics purchased from Speedy Supplies $120,000 of inventory on account. On

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Modern Electronics Company purchases merchandise inventory from several suppliers. On April 1, 2023, Modern Electronics purchased from Speedy Supplies $120,000 of inventory on account. On May 15, 2023, Modern Electronics sold inventory to a Jones Apartment Complex for $100,000cash, which included $90,000 COGS for the inventory. On June 15,2023 Modern Electronics remitted the applicable PST and GST or HST. Use the PST, GST, and HST rates in Exhibit 10.6. Required: Journalize Modem Electronics Company transactions on April1, 2023, May 15, 2023, and June 15, 2023, including applicable PST and GST or HST assuming it is located in: 0. Ontario b. British Columbia c. Albeila Part a. Modern Electronics is located in Ontario 1 Record the purchase of inventory on credit plus applicable ITC. 2 Record the cash sales plus applicable Sales tax. 3 Record the cost of sales. 4 Record the refund of applicable Sales tax from Receiver General for Canada. Part b. Modern Electronics is located in British Columbia (assume no PST poid on purchase of inventory) XX: 1 Record the purchase of inventory on credit plus applicable ITC. 2 Record the cash sales plus applicable Sales tax. 3 Record the cost of sales. 4 Record the refund of applicable Sales tax from Receiver General for Canada. 5. Record the remittance of PST to provincial authority-BC Ministry of Finance. Part c. Modern Electronics is located in Alberta 1 Record the purchase of inventory on credit plus applicable ITC. 2 Record the cash sales plus applicable Sales tax. 3 Record the cost of sales. 4 Record the refund of applicable Sales tax from Receiver General for Canada

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