Salty Co. uses a periodic Inventory system. Assume GST at 5% and PST at 8%. (any available cash discount is taken on the sale price before taxes). The following selected transactions occurred: May 5 Purchased merchandise for resale from Zodiac for $9,200 plus applicable taxes, terms 1/10, n/30, FOB destination. May 9 Sold merchandise to H. Chili (final customer) for $2,400 plus applicable taxes. The customer paid immediately at the time of the sale. REQUIRED: Prepare the general journal entries for the above transactions. GENERAL JOURNAL DEBIT CREDIT DATE ACCOUNT TITLES AND EXPLANATION CLDATA Cheat