Reference no: EM132752492
Problem 1: Record Transactions in Specialised Journals required to post the totals of each of the specialised journals to the relevant General Ledger and Subsidiary Ledger Accounts (Accounts Receivable and Accounts Payable) in the Excel Spreadsheet.
Transactions
June 3 Issued Cheque number 719 to Amped Up Industries. The cheque amount was $269.50 and a discount of $5.50 (including GST of $0.50) was received for early payment.
June 4 Purchased 200 metres of cabling from Clips n Cables (Invoice 3081) for $9.50 per metre, plus a total freight charge of $100 and total GST of $200.
June 6 Sold 15 Energy Saving Timers for $25 each, plus a total GST of $37.50 to Medical Centres SA (Invoice 4296)
June 7 Purchased Safety Switches from Action Limited (Invoice 634) for $1,100 including GST.
June 10 Purchased 20 safety switches from Amped Up Industries (invoice 7050) for $12 each, plus a total freight charge of $60 and total GST of $30.
June12 Cash Sale of 30 power boards with surge protection for $25 each plus a total GST of $75 to Heather Philips (Receipt 286)
June 12 Sold 10 Safety Switches on Credit to New Star Designs - list price is $100 each (net of GST). Invoice 4297.
June 14 Paid "The Advertiser Newspaper" (Chq 720) $660 (GST included) for advertising in the local paper.
June 21 Made a repayment of $1,000 on the ABC Bank Loan - Principal $750; Interest $250. Cheque Number 721.
June 21 Cash Sales banked $13,100 (Net of GST).
June 29 New Star Designs paid Invoice 4297. An early payment discount of 5% of the Invoice amount was allowed to the customer.
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