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Saved Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. Note Any available cash discount
Saved Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. Note Any available cash discount is taken only on the sale price before taxes. Aug. 1 Purchased $2,300 of merchandise for cash. 2 Purchased $ 7,100 of merchandise; terms 2/10, n/30. 5 Sold merchandise costing $3,900 for $5,500; terms 1/10, n/30. 12 Paid for the merchandise purchased on August 2. 15 Collected the amount owing from the customer of August 5. 17 Purchased $6,300 of merchandise: terms n/15. 19 Recorded $7,300 of cash sales (cost of sales $6,100) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Record the cash purchase. Note: Enter debits before credits. Date General Journal Debit Credit Aug 01 15 Collected the amount owing from the customer of August 5. 17 Purchased $6,300 of merchandise terms n/15! 19 Recorded $7,300 of cash sales cost of sales $6,100). View transaction list x 1 Record the cash purchase. 2. Record the credit purchase;terms 2/10, n/30. 3. Record the sale;terms 1/10, n/30. 4 Record the cost of sale. 5. Record the payment within discount period. Credit 16 Record the collection within the discount period. Record the purchase;terms n/15. 8 Record the cash sale. Note:O = journal entry has been entered View transaction list X 2 Record the credit purchase;terms 2/10, n/30. 3 Record the sale;terms 1/10, n/30. 4 Record the cost of sale. 5 Record the payment within discount period. 6 Record the collection within the discount period. Credit 7. Record the purchase;terms n/15. 8 Record the cash sale. 9 Record the cost of sale. Note : - journal entry has been entered Record entry Clear entry View generalj
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