Please ensure all field are properly and orderly filled $($Count and structure included in the picture$).($To record cost of goods sold.$)$

$($To record cash refund for returned merchandise.$)$Paul$\text{'}$s Music is a store that buys and sells musical instruments in Ontario, where the HST rate is $13\%.$ Paul's Music uses a perpetual

inventory system and the earnings approach to revenue recognition. Transactions for the business are shown below:

Nov. $2$ Purchased $5$ electric guitars from Fender Supply Limited, on account, at a cost of $$700$ each.

$4$ Made a cash sale of $2$ keyboards for a total invoice price of $$2,800$ plus applicable taxes. The cost of each keyboard

was $$600.$

$5$ Received a credit memorandum from Western Acoustic Inc. for the return of an acoustic guitar that was defective.

The original invoice price before taxes was $$700$ and the guitar had been purchased on account. Paul's Music

intends to return the defective guitar to the original supplier.

$7$ One of the keyboards from the cash sale of November $4$ was returned to the store for a full cash refund because the

customer was not satisfied with the instrument. The keyboard, which cost $$600,$ was returned to inventory.

$8$ Purchased supplies from a stationery store. The price of the supplies is $$500$ before all applicable taxes.

$10$ Sold one Omega trumpet to Regional Band, on account, for an invoice price of $$5,500$ before applicable taxes. The

trumpet had cost Paul's Music $$2,600.$

$13$ Purchased two saxophones from Yamaha Canada Inc. on account. The invoice price was $$1,700$ for each saxophone,

excluding applicable taxes.

$14$ Collected $$3,650$ on account. The payment included all applicable taxes.

$16$ Returned to Yamaha Canada Inc. one of the saxophones purchased on November $13,$ as it was the wrong model.

Received a credit memorandum from Yamaha for the full purchase price.

$20$ Made a payment on account for the amount owing to Fender Supply Limited for the purchase of November $2.$

Prepare the journal entries to record the Paul's Music transactions. $($Credit account titles are automatically indented when the amount is

entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record cash sales.$)$