Module 5 (Chapter 5) Assignment Q 2 ED8 W V2 12/19 The Garden Store is a retail store and uses a periodic inventory system. Assume that the sales tax rates are GST @ 5% and PST @ 8%. Note: Discounts are calculated before sales taxes. The following transactions occurred during June 2022: June 4 Sold merchandise to Quick Co. for $5,500 under credit terms 2/10,n/30 FOB shipping point. Quick Co. is the final user of the merchandise. 6 Purchased merchandise from Tennis Co. for $7,600 under credit terms of 2/15, n/30, FOB destination. 12 Received an $400 credit memorandum acknowledging the return of merchandise purchased on June 6. 13 Received Quick Co.'s payment of the amount due from the June 4 sale. 15 Purchased office supplies for $260 before tax. Paid for the purchase immediately. 20 Paid the balance due to Tennis Co. Module 5 (Chapter 5) Assignment Q 2 ED8 W V2 12/19 The Garden Store is a retail store and uses a periodic inventory system. Assume that the sales tax rates are GST @ 5% and PST @ 8%. Note: Discounts are calculated before sales taxes. The following transactions occurred during June 2022: June 4 Sold merchandise to Quick Co. for $5,500 under credit terms 2/10,n/30 FOB shipping point. Quick Co. is the final user of the merchandise. 6 Purchased merchandise from Tennis Co. for $7,600 under credit terms of 2/15, n/30, FOB destination 12 Received an $400 credit memorandum acknowledging the return of merchandise purchased on June 6. 13 Received Quick Co.'s payment of the amount due from the June 4 sale. 15 Purchased office supplies for $260 before tax, Paid for the purchase immediately. 20 Paid the balance due to Tennis Co. Instructions: Record the above transactions in the General Journal data entry form provided in the Module 5 Learn Assessment Dropbox