Question 4: Recording transactions, Inventory, and GST (10 marks) Transactions for Camping Supplies Ltd. for the month of September 2021 are presented below. September 1 Shareholders invested $70,000 cash to start the business 5 Paid rent for the month of $4,400 (GST incl.) 6 Purchased inventories for $33,000 (GST incl.) on account 2/7 n/30 10 Paid insurance for the year $2,400 13 Made credit sales of inventories for 24,200 (GST incl.). Cost of inventory is $12,000. Credit sales term 1/7 n/30 14 Paid $5,000 salaries to staff 20 Made cash sales amounts to $13,200 (GST incl.). Cost of inventory is $5,000 25 Customer made payment for the purchase on 13 September 28 Customer returned some goods purchased on 20th September, $1,320 (GST incl.) being refunded. Cost of the returned goods is $500 30 Paid the supplier for the purchase on 5th September Required Journalise each transaction. Narrations are required. Start your answer here: $ Question 4: Recording transactions, Inventory, and GST (10 marks) Transactions for Camping Supplies Ltd. for the month of September 2021 are presented below. September 1 Shareholders invested $70,000 cash to start the business 5 Paid rent for the month of $4,400 (GST incl.) 6 Purchased inventories for $33,000 (GST incl.) on account 2/7 n/30 10 Paid insurance for the year $2,400 13 Made credit sales of inventories for 24,200 (GST incl.). Cost of inventory is $12,000. Credit sales term 1/7 n/30 14 Paid $5,000 salaries to staff 20 Made cash sales amounts to $13,200 (GST incl.). Cost of inventory is $5,000 25 Customer made payment for the purchase on 13 September 28 Customer returned some goods purchased on 20th September, $1,320 (GST incl.) being refunded. Cost of the returned goods is $500 30 Paid the supplier for the purchase on 5th September Required Journalise each transaction. Narrations are required. Start your answer here: $