Chee Yong Chaw began his business on 1 July 2016 The business balances its books at month end and uses special journals and the periodic inventory system Transactions for July 2016 were as follows July 1 Chee Yong Chaw invested $29,520 cash and $17,220 office equipment into the business July 2 Purchased inventory from L Cao on account for $7,380 plus GST terms 2 15, n 30 Paid July rental of $2,950 plus GST by interbank transfer to Prime Properties Ltd July 3 Purchased inventory from Difabio Ltd on account for $5,990 plus GST terms n 30 July 6 Sold inventory to J Ellis on account for $1,640 plus GST terms 2 15, n 30 July 7 Received July rental of $740 plus GST for space sublet to Perth Services July 8 Purchased stationery supplies for $1,640 plus GST cheque no 124 July 10 Purchased inventory for cash $1,620 plus GST July 13 Sold inventory to Giola Ltd on account for $3,690 plus GST terms 2 10, n 30 July 14 Purchased inventory from O Hee on account for $4,920 plus GST terms 2 10, n 30 July 15 Paid L Cao for 2 July purchase with an interbank transfer July 19 Received $1,768 from J Ellis in payment of her account Sold inventory to O Kaddish on account for $3,770 plus GST terms 2 10, n 30 July 21 Received $3,978 from Giola Ltd in payment of its account Sold inventory to Modra Ltd on account for $2,950 plus GST terms 2 10, n 30 July 22 Paid O Hee for 14 July purchase cheque no 125 July 23 Purchased inventory from L Cao on account for $4,510 plus GST terms 2 15, n 30 July 26 Sold inventory for cash, $2,380 plus GST July 28 Returned defective inventory that cost $980 to L Cao July 29 Sold merchandise to I Nizic on account for $6,720 plus GST terms 2 10, n 30 July 30 Purchased merchandise from A Romeo on account for $1,480 plus GST terms 1 10, n 30 Paid month's salary of office assistant, $2,620 by interbank transfer

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Chee Yong Chaw began his business on 1 July 2016. The business balances its books at month-end and uses special journals and the periodic inventory

Chee Yong Chaw began his business on 1 July 2016. The business balances its books at month-end and uses special journals and the periodic inventory system. Transactions for July 2016 were as follows:

July 1	Chee Yong Chaw invested $29,520 cash and $17,220 office equipment into the business.
July 2	Purchased inventory from L Cao on account for $7,380 plus GST; terms 2/15, n/30. Paid July rental of $2,950 plus GST; by interbank transfer to Prime Properties Ltd.
July 3	Purchased inventory from Difabio Ltd on account for $5,990 plus GST; terms n/30.
July 6	Sold inventory to J Ellis on account for $1,640 plus GST; terms 2/15, n/30.
July 7	Received July rental of $740 plus GST for space sublet to Perth Services.
July 8	Purchased stationery supplies for $1,640 plus GST; cheque no. 124.
July 10	Purchased inventory for cash $1,620 plus GST.
July 13	Sold inventory to Giola Ltd on account for $3,690 plus GST; terms 2/10, n/30.
July 14	Purchased inventory from O Hee on account for $4,920 plus GST; terms 2/10, n/30.
July 15	Paid L Cao for 2 July purchase with an interbank transfer.
July 19	Received $1,768 from J Ellis in payment of her account. Sold inventory to O Kaddish on account for $3,770 plus GST; terms 2/10, n/30.
July 21	Received $3,978 from Giola Ltd in payment of its account. Sold inventory to Modra Ltd on account for $2,950 plus GST; terms 2/10, n/30.
July 22	Paid O Hee for 14 July purchase; cheque no. 125.
July 23	Purchased inventory from L Cao on account for $4,510 plus GST; terms 2/15, n/30.
July 26	Sold inventory for cash, $2,380 plus GST.
July 28	Returned defective inventory that cost $980 to L Cao.
July 29	Sold merchandise to I Nizic on account for $6,720 plus GST; terms 2/10, n/30.
July 30	Purchased merchandise from A Romeo on account for $1,480 plus GST; terms 1/10, n/30. Paid month's salary of office assistant, $2,620 by interbank transfer.