Reference no: EM132963586

Question - Palliser Inc. uses a perpetual inventory system and PST at 8% along with 5% GST. The following transactions occurred during the month of December. Dec 4 Sold merchandise costing $1,000 for $3,300; terms 1/10, n/30. Dec 13 Collected the amount owing from the December 4 sale. Dec 17 Purchased $2,000 of merchandise; terms 2/10, n/30. Dec 27 Paid for the merchandise purchased on December 17. Dec 31 Recorded $5,000 of cash sales (cost of sales $2,000). Journalize the above transactions including GST and PST. Any available cash discount is taken only on the sale price before taxes. There is a General Journal template provided that you can use to answer this question.