Apply Your Skills

APPLY YOUR SKILLS $6-1$

Catch Up on Transactions

In this exercise, you will be catching up on Melanie$$s bookkeeping and will complete any outstanding recurring transactions and make bill payments and receive payments to prepare for the reconciliation of her bank account through the end of July $2026.$

Use the recurring transaction for the loan payment transfer to post July$$s transfer.

Record cheque #$10025$ for the prepaid expenses for rent to We Work Space for the period of July to December $2026,$ dated July $1,2026,$ in the amount of $$3,300$ plus HST$.$

Record a journal entry dated July $31,2026,$ to allocate the July portion of the rent to the Rent or lease payments expense account and make it recurring for the next five months to December $31,2026.$

Hint: You can use the preexisting recurring transaction for rent you already had, that expired, then edit it for the new period.

Receive payment via e$-$transfer $($add a new payment method$)$ from H$2$H for six weeks of their weekly flowers; $$1,220\mathrm{.}40$ goes directly into the TD Operating Accounting on June $23,2026.$

Post the weekly invoices for H$2$H for all of June and July $2026,$ starting date June $5,2026$; use your recurring transaction.

Hint: You can also use the Copy function in the More menu after posting the first transaction.

CHECK FIGURE Your figures from your Balance Sheet should match those shown here, as at July $31,2026$:

TD Operating Account

$$3,662\mathrm{.}24$

TD Savings

$$1,000\mathrm{.}00$

Accounts Payable $($A$/$P$)$

$$982\mathrm{.}60$

TD VISA

$$633\mathrm{.}14$