Under the perpetual inventory system, what is the correct entry for the credit purchase of 10 electric keyboards at $100 per keyboard plus GST of 10%?
A) DR Inventory $1100; CR Accounts payable $1000; CR GST payable $100
B) DR Inventory $1000; DR GST receivable $100; CR Accounts payable $1100
C) DR Accounts payable $1100; CR Inventory $1000; CR GST payable $100
D) DR Inventory $1100; CR Accounts payable $1100
Correct Answer:
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