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On July 10, Klein Company, a business located in Alberta, purchased $50,000 of inventory for resale on account. On July 25, Klein recorded the sale

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On July 10, Klein Company, a business located in Alberta, purchased $50,000 of inventory for resale on account. On July 25, Klein recorded the sale of that merchandise on account for $60,000 plus tax On August 10, Klein remitted GST to the Receiver General. They had no other sales or input tax credits. Joumalize all three transactions Begin by journalizing the purchase of inventory on account (Record debits first, then credits. Exclude explanations from journal entries.)

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