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Record the july transactions shown in specialised journals

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Reference no: EM132767547

Problem 1: Record the July transactions shown below in the Specialised Journals provided below. Note: All sales and purchases are made on credit unless otherwise specified.

July 3: Paid Telstra $330 (GST included) for the last 3 months telephone bill. Cheque No: 690

July 7: Purchased inventory on credit from Softcom Pty Ltd $2,000 + $50 delivery fee (Net of GST on both the inventory and the freight). Their invoice No: 1068.

July 11: Sold inventory on credit to Western Limited for $400 (net of GST). Our sales invoice number 600.

July 12: Sold inventory on credit to Hardware Ltd $6,600 (including GST). Our sales invoice No: 401.

July 12: Western Ltd returned goods purchased on July 11 because of faulty wiring. The value returned was $100 (net of GST).

July 15: Cash Sales for the week deposited in the Bank - $5,000 (Net of GST).

July 19: Issued Cheque 691 for $2,000 to Betts Suppliers in settlement of our outstanding account.

Reference no: EM132767547

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