Daniel runs an optical store D Only Opt, where he sells sunglasses and eyeglass frames. Their financial year runs from 1 July to 30 June.

The following transactions occurred during the month of January 2021:

NOTE: D Only Opt is registered for GST. GST needs to be accounted for whenever applicable.

2	The business borrowed $70,000 from the Westpac at 5% annual interest rate. Interest is paid quarterly.
15	Daniel paid salaries to his sales staff for the fortnight (Gross salary of $2,320; PAYG of $540).
16	Received an advance payment of $440 for 2 (two) sunglasses that would be delivered at the end of the month. The cost price of the goods sold was $120.
17	The business returned unwanted goods purchased last month from Officeworks. Cash refund of $1,650 received immediately. Officeworks is registered for GST.
18	A debtor returned unwanted goods totaling $770. The goods returned cost D Only Opt $308.
25	Credit sales were made totaling $8,800. The cost price of the goods sold was $3,450.
30	Daniel purchased computer equipment for $594 on credit, net 30. The computer supplier is registered for GST.
31	Recorded delivery of two (2) sunglasses paid on the 16th of January.

Required:

Post relevant transaction(s) to the Sales Revenue ledger and calculate the balance at 31 January 2021. (5 marks)

Balance for the Sales Revenue at 31/12/2020 was $55,600 (CR)