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

The following transactions occurred during the month of January 2021:

NOTE:D Only Optis 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$1,650received 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 16^thof January.

Required:

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

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