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Question: cracko ltd uses a perpetual inventory system during september the...

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Cracko Ltd uses a perpetual inventory system. During September, the following transaction and events occurred. All transactions are exclusive (net) of GST.

Sept 3.   Purchased $3000 of inventory terms 2/5, n/60.

       6       Returned $300 of the inventory Purchased on Sept 3.

       7       Paid Freight charges of $150 on goods purchased and sept 3.

       12      Paid for the goods purchased on sept 3 .

       13       sold good on credit for $1000, term 1/5, n/30. Cost of sales was $400.

        23      Received payment from the customer of sept 13.

Required .  

Prepare the journal sentries to record the transaction and include/add GST (10%) with applicable.

 

      

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