Question: Using the periodic inventory system, prepare general journal entries for the following transactions of Heidelberg Housewares (assume no GST). 1. Purchased inventory on credit for

 Using the periodic inventory system, prepare general journal entries for the

Using the periodic inventory system, prepare general journal entries for the following transactions of Heidelberg Housewares (assume no GST). 1. Purchased inventory on credit for \\( \\$ 58200 \\). 2. Sold inventory for \\( \\$ 18800 \\) in cash and \\( \\$ 16730 \\) on credit. 3. A customer returned goods she had bought on credit for \\( \\$ 1840 \\). 4. Purchased a computer to be used in the business for \\( \\$ 2400 \\) cash. 5. Returned inventory for credit that was previously purchased for \\( \\$ 1060 \\). 6. Purchased inventory on credit with \\( \\$ 12800 \\) list price. A \25 trade discount applies. 7. Sold inventory for \\( \\$ 7600 \\) on credit

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