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 GST10 July 1 Chee Yong Chaw invested $37,440 cash and $21,840 office equipment into the business July 2 Purchased inventory from L Cao on account for $9,360 plus GST terms 2 15, n 30 Paid July rental of $3,740 plus GST by interbank transfer to Prime Properties Ltd July 3 Purchased inventory from Difabio Ltd on account for $7,590 plus GST terms n 30 July 6 Sold inventory to J Ellis on account for $2,080 plus GST terms 2 15, n 30 July 7 Received July rental of $940 plus GST for space sublet to Perth Services July 8 Purchased stationery supplies for $2,080 plus GST cheque no 124 July 10 Purchased inventory for cash $2,060 plus GST July 13 Sold inventory to Giola Ltd on account for $4,680 plus GST terms 2 10, n 30 July 14 Purchased inventory from O Hee on account for $6,240 plus GST terms 2 10, n 30 July 15 Paid L Cao for 2 July purchase with an interbank transfer July 19 Received $2,242 from J Ellis in payment of her account Sold inventory to O Kaddish on account for $4,780 plus GST terms 2 10, n 30 July 21 Received $5,045 from Giola Ltd in payment of its account Sold inventory to Modra Ltd on account for $3,740 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 $5,720 plus GST terms 2 15, n 30 July 26 Sold inventory for cash, $3,020 plus GST July 28 Returned defective inventory that cost $1,250 to L Cao July 29 Sold merchandise to I Nizic on account for $8,530 plus GST terms 2 10, n 30 July 30 Purchased merchandise from A Romeo on account for $1,870 plus GST terms 1 10, n 30 Paid month's salary of office assistant, $3,330 by interbank transfer Prepare the following ledger accounts (T format) for July 2016 Accounts receivable control 2016 2016 Accounts payable control Cash at bank Purchases 2016 Accounts receivable control 2016 2016 Accounts payable control Cash at bank Purchases 2016

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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: GST10%

July 1		Chee Yong Chaw invested $37,440 cash and $21,840 office equipment into the business.
July 2		Purchased inventory from L Cao on account for $9,360 plus GST; terms 2/15, n/30. Paid July rental of $3,740 plus GST; by interbank transfer to Prime Properties Ltd.
July 3		Purchased inventory from Difabio Ltd on account for $7,590 plus GST; terms n/30.
July 6		Sold inventory to J Ellis on account for $2,080 plus GST; terms 2/15, n/30.
July 7		Received July rental of $940 plus GST for space sublet to Perth Services.
July 8		Purchased stationery supplies for $2,080 plus GST; cheque no. 124.
July 10		Purchased inventory for cash $2,060 plus GST.
July 13		Sold inventory to Giola Ltd on account for $4,680 plus GST; terms 2/10, n/30.
July 14		Purchased inventory from O Hee on account for $6,240 plus GST; terms 2/10, n/30.
July 15		Paid L Cao for 2 July purchase with an interbank transfer.
July 19		Received $2,242 from J Ellis in payment of her account. Sold inventory to O Kaddish on account for $4,780 plus GST; terms 2/10, n/30.
July 21		Received $5,045 from Giola Ltd in payment of its account. Sold inventory to Modra Ltd on account for $3,740 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 $5,720 plus GST; terms 2/15, n/30.
July 26		Sold inventory for cash, $3,020 plus GST.
July 28		Returned defective inventory that cost $1,250 to L Cao.
July 29		Sold merchandise to I Nizic on account for $8,530 plus GST; terms 2/10, n/30.
July 30		Purchased merchandise from A Romeo on account for $1,870 plus GST; terms 1/10, n/30. Paid month's salary of office assistant, $3,330 by interbank transfer.

Prepare the following ledger accounts (T format) for July 2016

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Accounts receivable control 2016 2016 > Accounts payable control Cash at bank Purchases 2016 Accounts receivable control 2016 2016 > Accounts payable control Cash at bank Purchases 2016