Prepare the journal entries for Passport Merchandising, assuming that Passport Merchandising uses a perpetual inventory system Passport Merchandising charges GST on all its sales at the rate of 5 percent and pays GST on all its purchases at the rate of 5 percent. Explanations are not required (Click the icon to view the transactions.) Prepare the journal entries for Passport Merchandising May 8. Purchased inventory, on account, FOB destination, from Seguin Wholesale $2.000 plus applicable GST (Record debits first, then credits. Exclude explanations from Journal entries. Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit May 8 May 10. Returned defective merchandise to Seguin, $300 plus applicable GST (Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit May 10 than nantin the neytuestion May 12. Sold merchandise to Dainty Store on account for $3,000 plus applicable GST Cost of the merchandise sold was $1,300 Begin by recording the sale on account. (Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit May 12 Now, update the inventory account from the sale. (Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit May 12 Choose from any list or enter any number in the input fields and then continue to the next question. May 28. Collected balance on account from Dainty Store. (Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit May 28 May 30 Paid balance on account to Seguin (Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit May 30 June 15. Prepared the remittance payment of GST based on only the above transactions in May. (Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit Jun 15 Data Table bir May 8 Purchased inventory, on account, FOB destination, from Seguin Wholesale $2,000 plus applicable GST. 10 Returned defective merchandise to Seguin, $300 plus applicable GST 12 Sold merchandise to Dainty Store on account for $3,000 plus applicable GST. Cost of the merchandise sold was $1,300 28 Collected balance on account from Dainty Store. 30 Paid balance on account to Seguin June 15 Prepared the remittance payment of GST based on only the above transactions in May e Print Done