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Point 1: HST on Sales account and an HST on Purc/Serv. account.
Point 2: At March 31 the HST on Sales Acct had a balance of 1,387 CR
Point 3: At March 31 the HST on Purc/Service had a balance of $841 DR
Point 4: The net tax as of March 31 is $546. This amount ($546) was remitted to the Government on April 13.
Question 1: How do you record this? Is it a Debit of $1,387 to HST on Sales and a Credit of $841 on the HST on Purc/Serv. account ?? know that $546 will be a credit to Cash/Banking, just not sure how to record in the HST accounts.
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