View Policies Current Attempt in Progress Pharoah Company is a retailar operating in the province of Ontario, where HST is 13%. Pharoah uses a periodic inventory system. Transactions for the business are shown below: Nov 1 Paid November store rent to the landlord. The lease calls for monthly payments of $4,500 bafore taxes. Purchased merchandise for resale on account from Comet Industries. The merchandise cost $8,000 plus applicable 4 6 Returned $600 of merchandise to Comst Industries. 12 Sold merchandise on account to Solar Star Company for $9,000 plus applicable sales taxes, terms, n/30, FOB shipping point. The marchandise was shipped to Solar Star. The cost of the marchandise to Pharoah was $5,000. Purchased a new laptop computer at Staples for the marketing manager. The price of the laptop was $1,200 before applicable taxes. Paid the quarterly remittance of HST to the Receiver General. The balances in the accounts were as follows: HST Payable $2,420 and HST Recoverable $995 30 Prepare the journal entries to record these transactions on the boolc of Pharoah. Assume that the GST balances on Nov. 30 provided are the balances in the HST accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round d answers to 2 decimal places, eg 5.275.75.) Date Account Titles and Explanation Debit Credit Nov. 1 Nov. 4 No. 6 Nov. 7 Nov. 12 Nov. 30