Shetland Ltd is a carpet retailing
business. The business is registered for GST. Shetland Ltd uses a
periodic inventory system. The transactions for January 2019 are
provided below. All transactions are inclusive of GST. The relevant
customer and supplier account balances at 31 December, 2018
were:
Accounts
Receivable
Accounts Payable
S.
Devine
$6,050
D. Harms $18,150
R.
Burton
3,025
Jan 5 Sold
inventory to B. Senton for $4,400, terms 2/7, n/30.
6 Purchased inventory from S. Warren for
$2,750,...