Smail a Search mail : 3 of 3,324 > CUM #1 - Part 2 (nort Answery Chapters 11,12,15 Multiple Choice Total Marks /20 #2) Oakwood Merchandising charges GST on all its sales at the rate of 5% and pays GST on all its purchases at the rate of 5%. The following are transactions for the month of September. Sept 3 Purchased office supplies on account from Staples for $300 plus applicable GST. 10 Cash purchased of inventory, FOB destination, from Stranhern Wholesale for $2,100 including applicable GST. 18 Sold merchandise to Smith's Store on account for $4.000 plus applicable GST. FOB shipping point. Cost of the merchandise sold was $3,200. 30 Collected balance on account from Smith's Store Required: 2) Prepare the journal entries for Oakwood Merchandising for these transactions for the month of September assuming that Oakwood Merchandising uses a perpetual inventory system (explanations are not required) (13 marks) 20 PM BOING 10:11 BI ype here to search G - 3 of 3.324 b) Prepare the journal entry on October 3 when Oakwood Merchandising filed their GST return and made their remittance payment or received their refund (explanation not required). (3 marks) 20 20214 Type here to search 140