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Question 6: (12 marks) Carleton Foodmart (CF) operates in the province of Ontario, where the HST rate is 13%. CF uses a perpetual inventory system.

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Question 6: (12 marks) Carleton Foodmart (CF) operates in the province of Ontario, where the HST rate is 13%. CF uses a perpetual inventory system. Transactions for the business in the month of November 2027 are shown below. Nov 1 Paid November store rent to the landlord. Monthly rent payments are $6,200 plus HST. Nov 14 Purchase merchandise inventory on account from various suppliers. The merchandise cost $4,100 plus HST Nov 17 Sold merchandise on account to various customers totaling $10,500 plus HST. The cost of the merchandise to CF was $5,425 Required: a) Prepare the journal entries to record these transactions on the books of Carleton Eoodmart b) Calculate the balance in the HST Payable account at the end of November c) Calculate the balance in the HST Recoverable account at the end of November. d) How much will Carleton Eoodmart owe to the Receiver General when they file their next HST return

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