From the following transactions of L Scott, who operates with periodic inventory:

• enter the appropriate journal abbreviation next to each transaction

• prepare the relevant journals (or general journal) for the month of March 2022

• post journals to a structured extract general ledger and balance the accounts

• prepare a trial balance as at 31 March 2022. Note that by calculating the cost details of inventory sold at a constant cost of 65% of the sales value (rounded to the nearest $), the question can also be answered as if perpetual inventory operates. The Workbook that accompanies this text will allow you to complete this question using both inventory systems.

__________ 1 Bought goods on credit from M Robertson $715 ($650 + $65 GST).

__________ 3 Received tax invoice for $99 ($90 + $9 GST) from the Stationery Shop for stationery.

__________ 4 Remittance $1507 ($1370 + $137 GST) received from P Houstein for the sale of stock.

__________ 4 Dividend received from CSR Ltd $205.

__________ 7 Tax invoice for $1584 ($1440 + $144 GST) sent to S Blayney.

__________ 7 Received credit note adjustment from M Robertson $99 ($90 + $9 GST) for error in pricing.

__________ 8 Sold goods for $957 ($870 + $87 GST) cash to J Vigna.

__________ 8 Processed remittance for telephone account to Telstra $396 ($360 + $36 GST).

__________ 9 Remittance sent to Prosperous Electricity for electrical use $858 ($780 + $78 GST).

__________ 9 C Hunter purchased goods on credit for $1650 ($1500 + $150 GST) from L Scott.

__________ 9 Sent tax invoice for goods to S Blayney $1793 ($1630 + $163 GST).

__________ 15 Sold goods to B Watkins $1551 ($1410 + $141 GST).

__________ 16 Debit card used for inventory purchases $550 ($500 + $50 GST).

__________ 17 Sold machinery to J Muller at book value $693 ($630 + $63 GST).

__________ 17 Credit note adjustment posted to B Watkins $110 ($100 + $10 GST).

__________ 19 Paid $363 ($330 + $33 GST) for stock from J Major.

__________ 20 Monthly salaries $2800.

__________ 27 Received funds from B Watkins for all amounts owing.

__________ 27 S Blayney paid her account in full.

__________ 27 Interest of $371 received from investment.

__________ 29 Paid M Robertson’s account in full.