You are hired to advise the owner of Yorkton Supply Company on how to properly record sales taxes for the sale and purchase of merchandise inventory. Assuming that the Saskatchewan sales tax rate is 6% and that federal GST rate 5%, record the following transactions: (4 marks)

• Jun 27 - sold merchandise on account for $10,899 to customer Venture Corp, with a cost of $6,298

• Jun 28 - purchased merchandise on account for $16,451 from supplier Amaze-On Inc. You are hired to advise the owner of Yorkton Supply Company on how to properly record sales taxes for the sale and purchase of merchandise inventory. Assuming that the Saskatchewan sales tax rate is 6% and that federal GST rate is 5%,