07 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 $1,600 of merchandise for cash. 2 Purchased $6,400 of merchandise; teras 1/10, 1/30. 5 Sold merchandise costing $3,200 for $4,500; terms 3/10, 1/30. 12 Paid for the merchandise purchased on August 2. 15 Collected the amount owing from the customer of August 5. 17 Purchased $5,600 of merchandise; teras n/15. 19 Recorded 56,600 of cash sales (cost of sales $5,400). View transaction list Journal entry worksheet Record the cash purchase. Note: Enter debits before credits. Date General Journal Debit Credit Aug. 01 Record entry Clear entry View general journal