Question 1 The following transactions occurred during the month of May in the business of Jasmines Fashion Emporium, a sole trader run by Jasmine Jones. Jasmine is registered for the GST. Prepare general journal entries to record the transactions. You are not required to complete narrations (descriptions of the transactions) or posting references. May Bought inventory for cash for $2,860 and on credit for $10,164. 6 Paid for electricity, $451. 9 Sold inventory for cash for $2,794 and on credit for $4,521. The inventory cost Jasmine $3,998 net of GST. 14 Paid the staff wages, $3,740. 21 Received rent from a tenant who runs a florist shop in the front of the fashion emporium, $462. 24 Jasmine took home a lovely scarf and hat from the store to give to her mother as a birthday present. The scarf and hat had cost Jasmine $55 when she bought them for the shop. 26 Paid $6,468 to accounts payable. 29 Bought new shop fittings and fixtures on credit for $7,711