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Accounting with sales journal and purchases journal GST version Toby's Traders Ltd uses sales and purchases journals in its accounting system. The following transactions occurred
Accounting with sales journal and purchases journal
GST version
Toby's Traders Ltd uses sales and purchases journals in its accounting system. The following transactions occurred during April
tableAprilPurchased merchandise on account from Smythe Ltd invoice $ terms Purchased merchandise on account from Ellis Ltd invoice $ terms Sold merchandise on account to B Morran, invoice $Sold merchandise on account to Bryde Ltd invoice $Purchased merchandise on account from R Rober, invoice $ terms Sold merchandise on account to G Green, invoice $Sold merchandise on account to Bryde Ltd invoice $
Required
a Complete the requirements below, assuming that the business is registered for the GST
i Establish all necessary general ledger accounts, accounts receivable subsidiary Iedger accounts, and accounts payable subsidiary ledger accounts. Use the following account numbers: Accounts Receivable, ; GST Receivable, ; Accounts Payable, ; GST Payable, ; Sales, ; Purchases
ii Enter the transactions for April in the appropriate special journals.
iii. Post the data from the journals to the general ledger and subsidiary accounts.
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