Beech Outdoor Adventures Ltd uses the perpetual inventory system to account for its inventory. The following transactions relate to July 2018. The beginning inventory on 1 July 2018 consisted of 240, two-man tents which cost $25 each (net of GST).

July

4- Purchased 40 tents for $25 each on credit from Ash Co, plus 10% GST.

8- Returned 6 tents from the 4 July purchase to Ash Co. 10- Paid Ash Co for 34 tents and was granted a discount of 3.5%.

12- Sold 52 tents for $50 each on credit to Fir Ltd plus 10% GST.

20- Fir Ltd returned 2 of the tents sold on the 12th and was granted a credit. After inspection the tents were placed back in stock.

28- Fir Ltd paid the full amount owing for 50 tents.

30- Settlement of GST owing to Australian Tax Office for the month.

Prepare the required journal entries to record the above transactions assuming the company uses a perpetual inventory system.

Please provide detailed calculations to each of the above transactions, thank you.