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Journalize each of the following transactions assuming a periodic inventory system and PST at 8% along with 5% GST. June 1 Purchased $2,600 of merchandise;
Journalize each of the following transactions assuming a periodic inventory system and PST at 8% along with 5% GST.
| June | 1 | Purchased $2,600 of merchandise; terms 1/10, n/30. |
| 5 | Sold $1,600 of merchandise for $2,000; terms n/15. |
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