The 10% GST is applicable in this question. The perpetual system is used. On May 1, Retalier Co. purchased inventory on account from ABC Co., $4,800 (GST exclusive), terms 3/15,n/30. On May 5, Retailer Co. returned some inventory to ABC Co., $100 (GST exclusive) On May 8 , Retailer Co. paid for the inventory purchased. The journal entry to record the cash payment on May 8 in Retailer Co.'s books includes: The 10% GST is applicable in this question. The perpetual system is used. On May 1, Retalier Co. purchased inventory on account from ABC Co., $4,800 (GST exclusive), terms 3/15,n/30. On May 5, Retailer Co. returned some inventory to ABC Co., $100 (GST exclusive) On May 8 , Retailer Co. paid for the inventory purchased. The journal entry to record the cash payment on May 8 in Retailer Co.'s books includes