Architectural Marketing Division POSTCLOSING TRIAL BALANCE 31-Aug-18 Debit Credit 1001 Cash 1002 Accounts receivable 1004 Inventory $155,900 215,250 83,400 1006 Bidding supplies 10,350 1007 Showroom supplies 4,500 1008 Bidding equipment. 143,000 1009 Accumulate amortization-Bidding equipment $28,600 1010 Scale model tools 90,000 1011 Accumulate amortization-Scale model tools 40.500 1012 Showroom equipment 70,800 1013 Accumulate amortization-Showroom equipment 2001 Accounts payable 24,000 159,600 2004 Note payable 60,000 3001 Retained earnings 460,500 TOTALS $773,200 $773.200 BUSINESS TRANSACTIONS September 1 2 4 6 7 Acquired 10,000 common shares of Menuet Inc. for $5/share, plus a $1,000 transaction fee. There is no specific election with respect to the classification of this investment. Cheque #0100 was issued to pay for the shares acquired. Sold a glass mosaic bench-Arani Design for $2,500 with GST of $125, for a total of $2,625 to the City of Richmond and Your Group Number Cost of goods sold amounted to $1,500. Invoice #200 was created for this sale. The terms of sales were 2/10, n/30. Issued cheque #0101 as payment of $55,700 to Arani Design for merchandise purchased Jon May 31, on account Purchased 30 iron cast pots-Model Safa from Pot Designs for $600 per unit plus $900 in related GST, for a total of $18,900. The terms of sale are 2/10, n/30. Cash sales for the week of September 1-7, 2016, amounted to $14,600 plus GST of $730. Cost of goods sold was $8,800.