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Accounting Assignment?

Bought land for $3000 (plus GST) from ABC Finance Co, paying $1000 deposit as per receipt and tax invoice 606.

What would be the accounts involved ?

Your journal entries to your accounts would be:
Land (DR) $3000
Cash at Bank (CR) $1000
Loan from ABC Finance (or whoever you still owe the money to) (CR) $2300
GST on Acquisitions (DR) $300

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