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Question 1. During the month of April, Kamloops Industries purchased office supplies on account for $12,000 plus GST of 5%. 2. Kamloops Industries had sales
Question 1. During the month of April, Kamloops Industries purchased office supplies on account for $12,000 plus GST of 5%. 2. Kamloops Industries had sales on account of $25,000 during March and collected GST of 5%. 3. At the end of August, the company remitted (paid) the GST paid and collected to the Canada Revenue Agency. Required Prepare the journal entries to record the above transactions. Explanations are not required. DATE ACCOUNT DEBIT CREDIT
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