Here is the trial balance before of Leisure Gardens (garden furniture retailers):

Additional information:

1. Bought inventory that cost R4 825, before taking into account a trade discount of 20% on credit from Lumbago Ltd.

2. Bought inventory and paid by cheque, after receiving a tax invoice for R1 850.

3. Paid R170 for transport of inventory received.

4. Sold inventory at a cost of R360 that was marked up by 50% to Gladys Edwards on credit.

5. Sold inventory that was marked up by 40% and received a cheque for R560.

6. Gladys Edwards returned inventory that was the incorrect colour, and which had been recorded on the invoice at a total charge of R140. She was issued with a credit note.

You are required to:

Prepare the above transactions in the general journal of Leisure Gardens for the year ended.

Transcribed Image Text:

Capital Equipment Accounts receivable Accounts payable Bank Inventory Sales Cost of sales General expenses Salaries Leisure Gardens TRIAL BALANCE AS AT 30 SEPTEMBER 20x8 Debit Details Fol. B1 B2 B3 B4 B5 B6 N1 N2 N3 N4 40 000 00 1 750 00 1 000 00 61 250 00 127 000 00 21 895 00 28 680 00 281 575 00 Credit 100 000 00 2 375 00 179 200 00 281 575 00