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C2 Tax

GST, General Sales Tax

• Federal Tax
• 6%
• handled different ways depending on industry, item purchased, province, and customer

PST, Provincial Sales Tax

• Provincial Sales Tax
• amount varies from province to province
• handled different ways depending on item purchased, province, and customer

The journal entries are, at first, confusing; however, if you master one before learning the next--it is very not difficult.