Home Essence sells home accessories and other decorating supplies. They have a perpetual inventory system and their business is located in British Columbia. BC's PST rate is 7%. The following transactions took place in May:
May 6 A batch of 250 decorative vases were purchased for resale at $ 50 each before taxes from Sky View Decor Ltd. with terms 2/10, net 30, FOB shipping point.
16 Returned six of the vases as they were damaged in their packaging.
22 Picked up $ 100 worth of supplies for the office and paid with cash.
31 Purchased a display case for the store for $ 600 plus applicable taxes on account.
Instructions
Prepare the journal entries to record these transactions.

Question

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The Answer of Home Essence sells home accessories and other decorating supplies. They have a perpetual inventory system and their business is located in British Columbia. BC's PST rate is 7%. The following transactions took place in May:
May 6 A batch of 250 decorative vases were purchased for resale at $ 50 each before taxes from Sky View Decor Ltd. with terms 2/10, net 30, FOB shipping point.
16 Returned six of the vases as they were damaged in their packaging.
22 Picked up $ 100 worth of supplies for the office and paid with cash.
31 Purchased a display case for the store for $ 600 plus applicable taxes on account.
Instructions
Prepare the journal entries to record these transactions.

Home Essence Sells Home Accessories and Other Decorating Supplies