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December 14 Received a cheque from Gérard D. Laflac Inc. to settle the December 6 invoice. (no. 1011)
December 14 Issued cheque no. 416 to the Receiver General of Canada for $1 144.92, along with the third part of form PD7A duly completed for remittance of income tax, QPP and EI premiums withheld at source. The company could have made the payment directly at the bank.
December 14 Issued cheque no. 419 in the amount of $1 070.00 to the Order of the Corpusculaire Reg'd for various maintenance services provided. This enterprise does not bill the GST and QST. According to the law an organization that has sales less than $30 000.00 per year is not required to charge sales tax but at the same cannot receive a tax refund for sales taxes paid.
GST-7%, QST-6.5%
BANK STATEMENT
CHEQUE NO 416 - 1 144.92 (Dr)
CHEQUE NO 419 - 1 070.00 (Dr)
Not able to find invoice no.- 1011
Problem 1: Provide the journal entries with explanation.
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