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Question #3 (14 marks) Beta Appliances uses a perpetual inventory system and PST at 6% along with 5% GST. The following transactions occurred during the
Question \#3 (14 marks) Beta Appliances uses a perpetual inventory system and PST at 6% along with 5% GST. The following transactions occurred during the month of November. Nov 4 Sold merchandise costing $2,000 for $6,000; terms 1/10,n/30. Nov 10 Collected the amount owing from the November 4 sale. Nov 17 Purchased $5,000 of merchandise; terms 2/10,n/30. Nov 27 Paid for the merchandise purchased on November 17. Nov 28 Recorded $17,000 of cash sales (cost of sales $11,500 ). REQUIRED: Journalize the above transactions including GST and PST. Any available cash discount is taken only on the sale price before taxes. No explanations are required, but show your calculations
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