Refer to Practice Exercise 11. Assume this business is located in Manitoba. 1. Set up a Purchase Journal (PJ4) with the same headings as those shown in Figure 6.7. Change the HST-ITC column to GST-ITC. 2. Record the transactions in the Purchase Journal. Add 5% GST and 8% PST to all purchases (except merchandise and insurance). Be sure to add the PST into the amount debited to the asset or expense account. 3. Total the columns and prove equal debits and credits. (No posting is required.)
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