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Prepare general journal entries for the following four transaction GST is applicable, GST =15% 1. Inventory purchased from a supplier and paid for in cash.

Prepare general journal entries for the following four transaction【 GST is applicable, GST =15%】

1. Inventory purchased from a supplier and paid for in cash. The cost of the inventory was $150 798.

2. Inventory purchased from a supplier on credit. The total invoice amount was $173 418. 

3. Inventory sold to a customer for cash. The invoice total was $13 799.

4. Inventory sold to a customer on credit. The inventory sale price (GST exclusive) was     $11 999.

General journal entries for Entity Ltd
Date
Account names:

$ Dr

$ Cr

1













2


 










3













4












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