Margaret O’Reilly keeps three ledgers. Before you prepare the relevant journals, she requires you to enter the appropriate journal abbreviation next to each transaction. She then asks you to prepare the relevant journals for July and post these to the general, accounts receivable and accounts payable ledgers as appropriate. Listings showing the three ledger balances are also required.

The general ledger accounts at 30 June 2022 were bank $4166, inventory $484, GST receivable $500, GST payable

$1200, capital unknown, sales $9339, purchases $4312.

The accounts receivable ledger accounts were J Goulburn $2838, W Jasper $1518, T Ralga $2761.

The accounts payable ledger accounts were K Less $1188, C Rookwell $1133, M Vale $1419.

The two subsidiary ledgers agreed to their respective control accounts in the general ledger at the end of June 2022.

__________ 1 Received direct into bank account from J Goulburn $2750 after allowing $88 discount on last month’s account.

__________ 1 T Ralga forwarded remittance for $2684 in full settlement of June account.

__________ 1 Sold goods for cash to the Bungendore Co $2002 ($1820 + $182 GST).

__________ 2 Bought stock from Tirranaville Co-op for $473 ($430 + $43 GST) with a debit card.

__________ 2 Transferred funds to K Less for $1155 in full settlement of June account.

__________ 3 Paid C Rookwell balance on the June account.

__________ 7 Sold goods on credit to J Goulburn $2728 ($2480 + $248 GST).

__________ 7 Paid T Strar $715 ($650 + $65 GST) for stationery and office expense, used a debit card.

__________ 8 Received electronic transfer from W Jasper. No discount was allowed in settling the account.

__________ 8 Paid with debit card, $1243 ($1130 + $113 GST) for cash purchase of stock.

__________ 10 Tax invoice sent to W Jasper $2629 ($2390 + $239 GST) for inventory despatched.

__________ 13 Cash sale to A McAlister $1936 ($1760 + $176 GST).

__________ 16 Goods bought on credit by Ken More & Co $2101 ($1910 + $191 GST).

__________ 17 Paid Yarra Stationery by direct transfer for stationery and office expense $847 ($770 + $77 GST).

__________ 17 Direct deposit to Australian Taxation Office (ATO) the April–June GST $700 ($1200 payable –

$500 credit).

__________ 18 T Ralga purchased $1859 ($1690 + $169 GST) of stock on credit.

__________ 18 Purchased stationery on credit $286 ($260 + $26 GST) from Kialla Co; use stationery and office expense.

__________ 19 Mailed adjustment credit note for $33 ($30 + $3 GST) to T Ralga for overcharge on goods.
__________ 20 Received adjustment credit note from M Vale for $44 ($40 + $4 GST) for damaged stock.
__________ 20 Sent tax invoice for inventory to Pudman and Co $2772 ($2520 + $252 GST).
__________ 23 Remitted funds to M Vale only $1375 on account, no discount is involved.
__________ 27 Sold stock to W Jasper $2607 ($2370 + $237 GST) on credit.
__________ 27 Marulan and Co purchased $1683 ($1530 + $153 GST) of goods and paid by a debit card.
__________ 28 Tax invoice and goods for $2739 ($2490 + $249 GST) sent to J Goulburn.
__________ 28 Received tax invoice for $1628 ($1480 + $148 GST) from Grabben & Gullen insurance brokers.
__________ 28 Commercial rent received from Taylors Flat tenants $550 ($500 + $50 GST).
__________ 29 Adjustment credit note mailed to J Goulburn $55 ($50 + $5 GST) for damaged goods.
__________ 30 Tax invoiced J Goulburn $1958 ($1780 + $178 GST) for goods.
__________ 31 Commercial rent from Blankets Flat $451 ($410 + $41 GST) was received.
__________ 31 Paid with debit card, I Inveralochy for inventory $1419 ($1290 + $129 GST) purchased.