Prepare the journal entries for Passport Merchandising, assuming that Passport Merchandising uses a perpetual inventory system. Passport Merchandising charges GST on all its sales at the rate of 5 percent and pays GST on all its purchases at the rate of 5 percent. Explanations are not required. (Click the icon to view the transactions.) Data Table Prepare the journal entries for Passport Merchandising. May 8. Purchased inventory, on account, FOB destination, from Seguin Wholesale. $2,000 p answers to the nearest whole dollar.) und your General Journal Date Accounts Debit Credit May 8 May 8 Purchased inventory, on account, FOB destination, from Seguin Wholesale. $2,000 plus applicable GST. 10 Returned defective merchandise to Seguin, $300 plus applicable GST. 12 Sold merchandise to Dainty Store on account for $3,000 plus applicable GST. Cost of the merchandise sold was $1,300. 28 Collected balance on account from Dainty Store. 30 Paid balance on account to Seguin. June 15 Prepared the remittance payment of GST based on only the above transactions in May May 10. Returned defective merchandise to Seguin, $300 plus applicable GST. (Round you Print Done General Journal Date Accounts Debit Credit in the fields and bandentistathanantation