For each of the following transactions, identify whether inventory and GST are impacted, the journal that would be used to process the transaction and which subsidiary ledger will be impacted. If no ledger is impacted select "N/A". Assume a perpetual inventory system (the same as the Practice Set).

A selection must be made from each drop down menu.

Transaction	Inventory Y / N	GST Y/N	Journal	Subsidiary Ledger
Sell inventory on account	AnswerNY	AnswerNY	AnswerSales JournalPurchases JournalCash Receipts JournalCash Payments Journal	AnswerAccounts ReceivableAccounts PayableN/A
Purchase supplies for cash	AnswerNY	AnswerNY	AnswerSales JournalPurchases JournalCash Receipts JournalCash Payments Journal	AnswerAccounts ReceivableAccounts PayableN/A
Owners withdraw cash from business	AnswerNY	AnswerNY	AnswerSales JournalPurchases JournalCash Receipts JournalCash Payments Journal	AnswerAccounts ReceivableAccounts PayableN/A
Purchase inventory on account	AnswerNY	AnswerNY	AnswerSales JournalPurchases JournalCash Receipts JournalCash Payments Journal	AnswerAccounts ReceivableAccounts PayableN/A
Pay for inventory previously bought on account	AnswerNY	AnswerNY	AnswerSales JournalPurchases JournalCash Receipts JournalCash Payments Journal	AnswerAccounts ReceivableAccounts PayableN/A