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2. On July 5, Trkmenler Company recorded purchases of merchandise inventory on account, 12,960TL including value added tax of 8%. On July 15, Trkmenler Company

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2. On July 5, Trkmenler Company recorded purchases of merchandise inventory on account, 12,960TL including value added tax of 8%. On July 15, Trkmenler Company recorded a sales of merchandise inventory on account 29,160 TL including value added tax of 8%. Requirements Note: Do the joumal enties regarding the Turkish accounting system a) Journalize the transaction to record the sale on July 5 . b) Joumalize the transaction to record the sale on July 15 . Ignore cost of goods sold. c) Do necessary calculation and joumalize VAT records on July 31 and payment (if it is needed) on August 25

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