Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. Not

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Journalize Each Of The Following Transactions Assuming A Perpetual Inventory System And Pst At 8 Along With 5 Gst Not 1 (23.5 KiB) Viewed 8 times

Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. Note: Any available cash discount is taken only on the sale price before taxes. Aug. 1 Purchased $1,100 of merchandise for cash. 2 Purchased $5,900 of merchandise; terms 3/10, n/30, 5 Sold merchandise costing $2,700 for $4,300; terms 2/10, n/30. 12 Paid for the merchandise purchased on August 2. 15 Collected the amount owing from the customer of August 5. 17 Purchased $5,100 of merchandise; terms n/15. 19 Recorded $6,100 of cash sales (cost of sales $4,900).