Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST. June (1) Purchased $2,000 of merchandise; terms 1/10, n/30. (5) Sold $ 1,000 of merchandise for $1,400; terms n/15. Please answers in Journal entry worksheet

Purchase-Related Transactions Using Periodic Inventory System The following selected transactions were completed by Niles Co. during March of the current year: Mar. 1. Purchased merchandise from Haas Co., $43,250, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $650 was added to the invoice. 5. Purchased merchandise from Whitman Co., $19,175, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $15,550, terms FOB destination, 2/10, n/30. 14. Issued debit memo to Jost Co. for $3,750 of merchandise returned from purchase on March 13. 18. Purchased merchandise from Fairhurst Company, $13,560, terms FOB shipping point, n/eom. 18. Paid freight of $140 on March 18 purchase from Fairhurst Company. 19. Purchased merchandise from Bickle Co., $6,500, terms FOB destination, 2/10, n/30. 23. Paid Jost Co. for invoice of March 13 less debit memo of March 14. 29. Paid Bickle Co. for invoice of March 19. 31.…

Journalize the following merchandise transactions: (If an amount box does not require an entry, leave it blank.) a. Sold merchandise on account, $12,900, with terms 2/10, net 30. The cost of the merchandise sold was $8,385. Sale Cost b. Received payment within the discount period.

Create General Journal entries

Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. Apr. Apr. Apr. Apr. 2 Purchased $6,100 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. Paid $280 cash for shipping charges on the April 2 purchase. Returned to Lyon Company unacceptable merchandise that had an invoice price of $650. Apr. 3 4 17 18 Apr. 21 28 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. Purchased $11,500 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. After negotiations, received from Frist a $600 allowance toward the $11,500 owed on the April 18 purchase. Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.

Journal entries based on perpetual inventory: Sales of 5 products on credit to the customer at a price of $50.

prepare a journal entry to record transaction Buyer buys merchandise for 3,000, credit terms 2/10 n/30. Merchandise cost 1800