Chapter 4
Current Liabilities
183
AP-20A (
2
4
)
Signet Sales operates in a province where HST is applied to all sales at 13%. During July 2017,
it had the following sales.
Jul 10 Sold inventory to a customer for $1,000 plus HST on account.
The inventory costs $700.
Jul 12 Sold inventory to a customer for $4,000 plus HST for cash.
The inventory costs $2,900.
Record the transactions for July 2017.
Date
Account Title and Explanation
Debit
Credit
