Elliott started business on 1 July 2019. The accounting system includes a sales journal, a purchases journal, a cash receipts journal, a cash payments journal and a general journal. The chart of accounts shows the following titles.

During June, the transactions were as follows (ignore GST).

Required

Record the transactions in the appropriate journals. Indicate how the postings would be made from the journals by entering the relevant posting references.

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100 Cash at Bank 410 Sales Returns and Allowances 110 Accounts Receivable Control 420 Discount Received 115 Prepaid Insurance 500 Purchases 150 Office Equipment 503 Purchases Returns 201 Accounts Payable Control 510 Discount Allowed 210 Loan Payable 550 Rent Expense 300 A. Elliott, Capital 560 Insurance Expense. 400 Sales 570 Sundry Expenses