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Pay attention to the GST in this question. Question 1 (12 points) Question 1 The following transactions occurred during the month of July in the

Pay attention to the GST in this question. image text in transcribed
Question 1 (12 points) Question 1 The following transactions occurred during the month of July in the business of Johnson's General Store, which is owned by sole trader Jeremy Johnson. Jeremy is registered for GST. Using the General Journal table below, prepare general journal entries to record the transactions. You are not required to complete narrations or posting references. July 1 6 14 19 21 24 26 Bought inventory for cash. $2.354. Paid for electricity, $407. Sold inventory for cash for $2,794 and on credit for $4,521. The inventory cost Jeremy $4,798 net of GST. Paid the staff wages, $3,740. Bought inventory for $10,164 on credit. Received rent from a tenant who runs a florist shop in the front of the general store. S462. Jeremy took cash from the business bank account to pay for some personal expenses. $330. Paid $6,468 to accounts payable. (12 marks) Format General Journal Date Details Ref Debit Credit

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