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Record the transactions for september for toy retailer

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Reference no: EM132976787

Toy Retailer operates in a province where HST 13% is charged on all goods and services. During September 2020, it had the following transactions.

Sep 12Sold inventory to a customer for $2,400 plus HST for cash. The inventory costs $1,320.

Sep 15Sold inventory to a customer for $4,400 plus HST on account. The inventory costs $2,800.

Problem 1: Record the transactions for September 2020. The company uses a perpetual inventory system.

Reference no: EM132976787

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