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Problem 3 - GST/HST Payable (Basic) [10 minutes] 12 marks Melon Cauli is a local grocery store that uses a perpetual inventory system. Melon
Problem 3 - GST/HST Payable (Basic) [10 minutes] 12 marks Melon Cauli is a local grocery store that uses a perpetual inventory system. Melon Cauli sells goods on credit for $10,000. The applicable HST rate is 10%. The cost of goods sold was $6,000. Sales taxes are remitted to the Canada Revenue Agency. Prepare the necessary journal entries for this transaction on the date the goods are sold and for the remission of sales taxes collected on the date of sale to the CRA. Sale of Goods (9 marks) Debit Credit Remission of Sales Taxes (3 marks) Debit Credit
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