xercise 11-2 (similar to) Question Help Prepare the journal entries for Worldwide Merchandising, assuming that Worldwide Merchandising uses a perpetual inventory system. Worldwide 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.) ffect Prepare the journal entries for Worldwide Merchandising May 8. Purchased inventory, on account, FOB destination, from Samuelson Wholesale. 53,800 plus applicable GST. (Record debits first, then credits. Exclude explanations from ournal entries. Round your answers to the nearest whole dollar.) Durg General Journal Date Accounts Debit Credit er 11 May 8 1201 2017 % (10. ited p Choose from any list or enter any number in the input fields and then click Check Answer parts Clear All remaining Check Answer ? deduc Testinne 17 - * Data Table May 8 Purchased inventory, on account, FOB destination, from Samuelson Wholesale. $3,800 plus applicable GST. 10 Returned defective merchandise to Samuelson, $570 plus applicable GST 12 Sold merchandise to Seasonal Store on account for $5,000 plus applicable GST. Cost of the merchandise sold was $1,600. 28 Collected balance on account from Seasonal Store. 30 Paid balance on account to Samuelson, June 15 Prepared the remittance payment of GST based on only the above transactions in May. Print Done Prepare the journal entries for Worldwide Merchandising, assuming that Worldwide Merchandising uses a perpetual inventory system. Worldwide 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 percer Explanations are not required. (Click the icon to view the transactions.) Prepare the journal entries for Worldwide Merchandising. May 8. Purchased inventory, on account, FOB destination, from Samuelson Wholesale. $3,800 plus applicable GST. (Record debits first then credits. Exclude explanations from journal entries. Round your answers to the nearest whole dollar.) General Journal Date Accounts Debit Credit Re May 8 R rep Choose from any list or enter any number in the input fields and then click Check