A Company,using a Perpetual Inventory System,sells Goods on Credit for $10,000.The

question 41

Essay

A company,using a perpetual inventory system,sells goods on credit for $10,000.The applicable PST rate is 5% and the GST rate is 10%.The cost of goods sold was $6,000.Sales taxes are remitted on a monthly basis.Prepare the necessary journal entries for this transaction.

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Definitions:

Topic Sentence

A sentence that expresses the main idea of a paragraph.

Unhealthy Body Image

A distorted perception of one’s physical appearance, often leading to low self-esteem and negative behaviors.

Eating Disorders

Psychological disorders characterized by abnormal or disturbed eating habits that negatively affect a person's health and wellbeing.

Psychological Issues

Mental health problems or disorders that affect an individual's thinking, behavior, and overall well-being, often requiring professional assessment and intervention.