1. Journalize each of the following transactions assuming a perpetual inventory system and PST at 8%...
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1. Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST* any available discount is taken only on the sale price before taxes. 2 Recorded $9.000 of cash sales (ost of tales S6.2001 3 Puichased SIL.000 of merchandise invenitany for cash 7 Purchased S6.500 of merchandise, ters 1/10, u/45. * Sold merebandise conting S13.200 for $16.200; ters 2/10, 30 17 Paid for the meschandise purchased on Septenter 18 Collected the amouat owing Siom the eustoner of September Sept. 2. Journalize each of the transactions assuming a period inventory system and PST 8% along with 5% GST. 1. Journalize each of the following transactions assuming a perpetual inventory system and PST at 8% along with 5% GST* any available discount is taken only on the sale price before taxes. 2 Recorded $9.000 of cash sales (ost of tales S6.2001 3 Puichased SIL.000 of merchandise invenitany for cash 7 Purchased S6.500 of merchandise, ters 1/10, u/45. * Sold merebandise conting S13.200 for $16.200; ters 2/10, 30 17 Paid for the meschandise purchased on Septenter 18 Collected the amouat owing Siom the eustoner of September Sept. 2. Journalize each of the transactions assuming a period inventory system and PST 8% along with 5% GST.
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Step 1 Journal entries refers to the process of systematic documentation or recording of all the f... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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