Chapter 4
Current Liabilities
204
b) Prepare the journal entry that Tasty Cafe will prepare on September 30.
Date
Account Title and Explanation
Debit
Credit
AP-20B (
2
4
)
Toy Retailer operates in a province where HST is applied at 13%. During August 2017, it had
the following transactions.
Aug 12 Sold inventory to a customer for $2,000 plus HST for cash. The inventory costs $1,100.
Aug 15 Purchased inventory for $5,000 plus HST on account.
Record the transactions for August 2017.
Date
Account Title and Explanation
Debit
Credit
