ACCOUNT NAME

$1$ June Opening Balances

Cash

$ $70,785$

Accounts Receivable

$25,740$

Allowance for doubtful debts

$2,645$

Inventory

$32,400$

Office Supplies

$1,800$

Prepaid General Insurance

$3,600$

GST Paid

$6,300$

Equipment

$13,500$

Machinery

$65,000$

Truck

$46,100$

Land

$350,000$

Accounts Payable

$69,300$

GST Collected

$15,795$

Share Capital

$340,000$

Discount received

$13,200$

Repairs and maintenance

$7,400$

Purchases

$486,200$

Purchases returns & allowances

$7,040$

Salaries expense

$83,600$

Sales

$789,800$

Sales returns & allowances

$8,800$

Electricity expense

$12,100$

Telephone expense

$2,505$

Office expenses

$13,500$

Discount allowed

$8,450$

c$)$ Prepare general journal entries to record the following information.

$1.$ Office supplies on hand at $30$ June total $$900$

$2.$ The one$-$year general insurance policy expires on $31$ October $2023$

$3.$ Equipment has a useful life of $4$ years with no residual value. Store furniture and printer have useful life of $5$ years with no residual value. Scallion Ltd uses straight$-$line depreciation for these assets. $($Round all depreciation amounts upwards to nearest whole $$).$

$4.$ Commission revenue of $$39600$ has accrued during June

$5.$ Inventory at $30$ June is $$28800$