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Make the journal entries to record the transactions

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Question - Sam's Coffee is a retail store selling coffee and snacks. The following transactions are GST inclusive.

Sep 3 Purchased inventory on terms 1/15, n/20, $5 500.

Sep 6 Returned $550 of inventory from 3 September purchase.

Sep 8 Sold goods on terms of 2/15, n/35 of $6 600, inclusive of GST, that cost $2 640 net of GST.

Sep 10 Paid for goods purchased 3 September.

Required - Make the journal entries to record the transactions and include/add GST (10%) where applicable.

Reference no: EM132699646

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