Each journal that has to complete are below (Sales journal, purchases journal, cash payment journal, cash receipt journal and general journal)
Record the following transactions in the appropriate special journals or general journal for the month of June. Record and post all transactions in accordance with accounting procedures. Once you have recorded all of the transactions, total the columns in each journal and cross check that they balance before submitting for assessment. (Note: In each journal, enter transactions in order of transaction date and then in the order they appear in the transaction list below. For example, enter transactions from 12 June before transactions from 14 June and then enter the 12 June transactions in the order they appear in the transaction list below. If an account total or balance returns to zero, enter 0.00 in the required field, otherwise leave the field blank.) June 1 Cash sale #3357 for hire of surfboards, total value $315.20, including GST. The customer paid by EFTPOS which went directly into our bank account. June 4 Received the telephone bill (invoice #289467) from Telstra for $376.42, including GST. This was paid immediately with cheque #1194. June June 5 Paid Max Holman $960.00 with cheque #1195, the amount owing to him for invoice #1753. June 6 Receive 30 new surfboards (hire equipment) costing $2,610.00 including GST, from Coastal Surf and Waves together with their invoice #23116 for $2,722.00 which included a freight charge of $112.00. Terms on this invoice are 5/10, N30 and prices include GST. June 7 Invoiced (invoice #3358) Sand and Surf Holidays for the hire of equipment ($1,181.00) and lessons ($1,980.00). Total invoice value $3,161.00 including GST and terms are N30. Received and banked a cheque for $1,320.00 from Sand and Surf Holidays. June 10 June 12 Purchased postage stamps ($60.00 including GST) from Australia Post. These were paid for with cash from petty cash. 1une June 12 Sent cheque #1196 for $2,400.00 to Surf's Up Wholesalers in payment of their invoice #13467. June 12 The owner, Daniel Simons, cashed cheque #1197 for $3,049.00 for his own use. June 14 Paid Coastal Surf and Waves $2,585.90 with cheque #1198. This was in payment of their invoice #23116 less prompt payment discount. June 15 Purchased coffee and biscuits (staff amenities) for $26.85 from Campbell's Cash and Carry. This amount includes only $0.72 GST as some of the items are GST free. These were paid for with cash from petty cash. June 17 Sold ex hire equipment to Randall Smith for $660.00 including GST. His cheque for this amount was banked today. This equipment originally cost $805.00, but was written down to $310.00 at the date of sale. Calculate and journalise the profit on the sale. June 17 Received a bill (invoice #2234) from Max Holman for $1,331.00 including GST for surf instruction provided. His terms are N7. June 18 Cash sale (invoice #3359) for hire of equipment $281.60 and lessons $1,320.00. The customer paid the $1,601.60 including GST by EFTPOS. June 19 Invoiced (invoice #3360) Coastal Tours for hire of equipment $2,217.60 and lessons $1,188.00. Total value of invoice $3,405.60 including GST with terms of 10/10, N30. June 20 Purchase fuel for the motor vehicle costing $88.00 including GST. This was paid for with cheque #1199. June 24 Received and banked a cheque for $2,160.00 from Coastal Beach Resort. June 24 Cashed cheque #1200 for $86.85 to reimburse petty cash. June 24 Paid Manni's Board World with cheque #1201 for repairs to surfboards costing $352.00 including GST. June 25 Sent cheque #1202 for $432.00 to Australian Super. This was in payment of the amount of superannuation owing for May. June 26 Credit sale to WaterWorld Sports (invoice #3361) for hire of equipment $792.00 and lessons $1,320.00. Prices include GST and terms are N30. June 26 Received new surfboards for hire equipment ($1,650.00) from Surf Apparel together with their invoice #9457 for $1,705.00 including GST, which included a freight charge of $55.00. Terms N30. June 27 Received adjustment note #9462 from Surf Apparel for $165.00 including GST. This was for the return of one of the surfboards purchased on invoice #9457. June 28 Paid Coastal Cleaners for cleaning services provided in June $110.00 including GST, by cheque #1203. June 28 Cashed cheque #1204 for $4,060.00 for wages for the month. Gross wages are $4,600.00 and PAYG With ding deducted was $540.00. Received and banked a cheque for $3,065.04 from Coastal Tours. June 28 SALES JOURNAL Post Ref Hire Service Income Page: 10 Accounts Receivable Date Invoice No. Account Terms Lesson Income Freight Collected GST Collected June N30 10/10, N30 N30 PURCHASES JOURNAL Post Ref Date Invoice No. Account Other Freight Expense GST Paid (Outlays) Page: 11 Accounts Payable Terms 5/10, N30 June V V V N7 N30 V Page: 12 CASH PAYMENTS JOURNAL Debits GST Paid (Outlays) Credits Discount Received Account Cheque No. Post Ref Accounts Payable Other Bank Account Petty Cash GST Paid (Outlays) Date June V V V V V V V OOOOOO V V CASH RECEIPTS JOURNAL Page: 14 Debits Credits Date Other Account Post Bank Ref Account Discount GST Hire Given Collected Service Income Lesson Income Accounts Receivable GST Collected GENERAL JOURNAL Description Post Ref Debit Credit (Transfer profit on sale of ex hire equipment to Randall Smith) (Adjustment note #9462 from Surf Apparel for the return of hire equipment)
