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Question 4: (20 marks) Trenton Home Limited (THL) is a retailer operating in the province of Ontario, where the HST rate is 13%. Trenton uses

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Question 4: (20 marks) Trenton Home Limited (THL) is a retailer operating in the province of Ontario, where the HST rate is 13%. Trenton uses a perpetual inventory system. Transactions for the business in the month of November 2025 are shown below: Nov 1 Paid November store rent to the landlord. Monthly rent payments are $5,500 plus HST. Nov 4 Purchase merchandise inventory on account from Comet Industries. The merchandise cost $8,000 plus HST. Nov 6 Returned $500 of the merchandise to Comet Industries. Nov 7 Sold merchandise on account to Solar Star Company for $10,000 plus HST, terms n/30, FOB shipping point. The merchandise was shipped to Solar Star. The cost of the merchandise to THL was $6,000. Nov 12 Purchased a new laptop at Staples for the marketing manager. The price of the laptop was $1,200 plus HST. Paid cash. Nov 30 Paid the quarterly remittance of HST to the Receiver General. The balance in the accounts were as follows: HST Payable, $2,520 and HST Recoverable $985. Required: Prepare the journal entries to record these transactions on the books of Trenton Home Limited

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