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  1. business
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  3. journalize each of the following transactions assu

Journalize each of the following transactions assuming a perpetual inventory system and PST at 8%...

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Accounting

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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 $2,600 of merchandise for cash. 2 Purchased $7,400 of merchandise; terms 2/10, n/30. 5 Sold merchandise costing $4,200 for $5,800; 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 $6,600 of merchandise; terms n/15. 19 Recorded $7,600 of cash sales (cost of sales $6,400). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Record the cash purchase. Note: Enter debits before credits

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