Journal Entries and T Accounts for an Electronics Store

School: Toronto Metropolitan University - Course: BUISSNESS BBI2O - Subject: Accounting

Journal Entries - Exercise 2 (with HST) Instructions: A.Use the following account names for an electronics store: CashSales PurchasesInventory Freight-in HST Payable HST Recoverable C.Transfer the journal entries to the T accounts D.Calculate the balance of each account in the T accounts 1 Received an invoice, No. 435, from Paramount Manufacturing for a shipment of television sets, $3000.00 2 Received an invoice, No. B616 from Murray Transport Company for transportation charges on the above 3 Received an invoice, No. 7042, from Swiss Stationers for a shipment of office forms and supplies to be us 4 Issued Sales Invoice, No. 789, to W. Purbhoo for speakers, $500.00 plus HST of $65.00, total $565.00. 5 Issused Cash Sales Slip, No. 143, for the cash sale of merchandise from the store, $100.00 plus HST of $1 6 Received an invoice, No. 902, from Haniko Electric for a shipment of electronic parts, $2000.00 plus HSTB.Journalize the following transactions for the month ofJuneusing the journal paper

0, plus HST of $390.00, total $3390.00. shipment of television sets, $400.00 plus HST of $52 for a total of $452.00. sed in the business, $300.00 plus HST of $39.00, total $339.00 13.00, total $113.00. 260.00, total $2260.00.