The accounting system for Wallace Ltd uses a general journal and special journals for sales, purchases, cash receipts and cash payments Required (a) What journal would be the most probable source of the postings in the accounts (b) Which of the above accounts would be affected if GST was recorded (...

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The accounting system for Wallace Ltd uses a general journal and special journals for sales, purchases, cash

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(a) What journal would be the most probable source of the postings in the accounts?

(b) Which of the above accounts would be affected if GST was recorded?

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Accounting

ISBN: 9780730382737

11th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie

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Question Posted: Apr 13, 2024 11:01 PM

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The accounting system for Wallace Ltd uses a general journal and special journals for sales, purchases, cash

Question:

(a) (c) Cash at Bank 18280 (g) Accounts Receivable Control 56 160 (e) 110 Discount Received 450 14200 0 330 120 Purchases 510 15560 (h) 1580 (k) 20160 Purchases Allowances 515 (m) 250 Accounts Payable Control 210 13320 (1) 20160 Sales 410 Discount Allowed 520 (b) 56160 (f) 240 (d) 3560

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Accounting

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