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Part B Assume that Macca's Markets had an inventory balance of $43 780 at the close of the last accounting period. The following sales and purchase transactions are for the current period. NOTE: GST at 10% is included in the amount where applicable. 1. Purchased goods on account for $32 725. 2. Returned part of the above purchase that had an original invoice price of $2 629. 3. Paid for the balance of the purchase in time to receive a discount of 1.5% of the invoice 4. Sold goods on account costing $21 635 for an invoice price of $52 393 and received cash of $10 000. Required: 1. Prepare general journal entries to record the transactions assuming the perpetual inventory system is used. 2. Suppose that a physical count of the inventory at the end of the current period shows inventory of $41 590 to be on hand. Prepare the general journal entries (if any) that are required to adjust for any discrepancy. (5+2=7 marks)