Using Your Knowledge

I. In a two$-$column general journal, record the accounting entries for the following selected transactions of Industrial Supply owned by Johnston Lem. Industrial Supply uses the perindic inventory aystem and does not use returns and allowances accounts. Choose your own acrount. names.

transactions

May

$1$ Sales Invoice

No$.501,$ to Hewitt Construction, for the sale of merchandise on account, $$656\mathrm{.}00$ plus HST of $$85\mathrm{.}28,$ total $$741\mathrm{.}28.$

$5$ Purchase Invoice

From EM$.$J Steel Inc, No$.702,$ for merchandise for ressle, $81072\mathrm{.}14$ plus HST of $$139\mathrm{.}38,$ total $$1211\mathrm{.}52.$

$8$ Credit Invoice Received

From Great Lakes Wood Products, No$.702,$ allowance for defective goods, $$585\mathrm{.}00$ plus HST of $$76\mathrm{.}05,$ total $$661\mathrm{.}05.$

$9$ Sales Invoice

No$.502,$ to Northern Contracting, for sale of merchandise on account, $$846\mathrm{.}00$ plus HST of $$109\mathrm{.}98,$ total $$955\mathrm{.}98.$

$15$ Credit Invoice Issued

No$.503,$ to Precision Instruments, for unsatisfactory goods returned, $$600\mathrm{.}00$ plus HST of $$78\mathrm{.}00,$ total $$678\mathrm{.}00.$

$19$ Cash Sales Slip

No$.12520,$ to Quality Carpeting, for the cash sale of menchandise. $$102\mathrm{.}50$ plus HST of $$13\mathrm{.}33,$ total $$115\mathrm{.}83.$

$26$ Purchase Invoice

From Pacific Transport, No$.371,$ for transportation charges on incoming merchandise, $$896\mathrm{.}50$ plus HST of $$116\mathrm{.}55,$ total $$1018\mathrm{.}05,$