On June 2nd, Gerry purchased $3,000 of products with the intention of reselling them for profit. His supplier has agreed to collect payment later. On June 7th, Gerry sold half of these products for $3,500, agreeing to collect payment later. Gerry paid his supplier in full on June 10th and the customer paid Gerry in full on June 12th. Make all necessary journal entries. Discuss, in detail, how a business in BC handles GST and PST. As an example, assume the business has purchased $2,000 of fully taxable goods and sold them for $3,000. Discuss all relevant sales tax element relating to the purchase and the sale