From my answer 4520 31/7 Sales 450 iinspection and energy report 159 Discount receive 519 Profit and loss summary 6907 31/7 Profit and loss summary 4140 Open Iventory July 31 2600 Purchase 150 Freight in ward 230 Stationary Expense 200 Income expense 818 Wages expense 440 Internet and telephone expense 186 office supplies expense 3333 rent expense Closing inventory July 1 Petty Cash Account No. 091 DATE Jul-01 CREDIT ($) POST REF GJ EXPLANATION Opening Entry DEBIT ($) 210 BALANCE ($) 210 Dr Bank Account No. 090 DEBIT ($) POST REF. GJ DATE Jul-01 CREDIT ($) EXPLANATION Opening Entry BALANCE ($) 3860 Dr 3860 Accounts Receivable Account No. 610 DATE Jul-01 CREDIT ($) POST REF. GJ EXPLANATION Opening Entry DEBIT ($) 13585 BALANCE ($) 13585 Dr Accounts Payable Office Supplies Owing Account No. 800 Account No. 205 DEBIT ($) POST REF. GJ DATE Jul-01 DEBIT ($) EXPLANATION Opening Entry CREDIT ($) 7887 BALANCE ($) 7887Cr DATE Jul-01 Jul-01 EXPLANATION Opening Entry Expense Payable Expense POST REF. GJ GJ CREDIT ($) 186 BALANCE ($) 186 186 Wages Expene Payable GST Account No. 220 Account No. 820 DEBIT ($) DATE Jul-01 Jul-01 DEBIT ($) EXPLANATION Opening Entry Wages Expense POST REF. GJ GJ CREDIT ($) 862 BALANCE ($) 862 Cr DATE Jul-01 POST REF. GJ EXPLANATION Opening Entry CREDIT ($) 950 BALANCE ($) 950 862 Internet and Telephone Expenses Payable Big 4 Bank Mortgage Loan Account No. 210 Account No. 250 DEBIT ($) DATE Jul-01 Jul-01 POST REF. GJ GJ EXPLANATION Opening Entry Telephone Expense CREDIT ($) 481 BALANCE ($) 481 Cr DEBIT ($) DATE Jul-01 POST REF. GJ EXPLANATION Opening Entry CREDIT ($) 123000 BALANCE ($) 123000 481 Cash Receipts Journal GST ate Particulars Post Ref Discount GST Accounts Receivable Sales Other Receipts Bank Cash Payments Journal GST ate Particulars Post RefDiscount GST Accounts Payable Purchases lother Payments Bank Sales Journal Accounts Receivable ate Particulars Post Ref Sales Freight GST Sales Returns Journal Sales Post Ref Returns Accounts Receivable ate Particulars Freight GST Purchases Journal ate Accounts Payable Particulars Post Ref Purcahses Freight GST Purchases Returns Journal Purcahse Post Ret Returns ate Particulars Freight GST Accounts Payable PURCHASES Wages Expense Account No. Account No. 505 POST REF DATE EXPLANATION DEBIT ($) CREDIT ($) BALANCE ($) DATE Jul-01 DEBIT ($) POST REF GJ EXPLANATION Wages Expense Payable CREDIT ($) 862 BALANCE ($) 862 Cr Freight Inwards Internet and Telephone Expenses Account No. Account No. 510 POST DATE EXPLANATION REF DEBIT ($) CREDIT ($) BALANCE ($) DATE Jul-01 DEBIT ($) POST REF GJ EXPLANATION Internet and Telephone Expenses Payable CREDIT ($) 481 BALANCE ($) 481 Cr Office Supplies Expense Account No. Account No. 520 POST REF. DATE EXPLANATION DEBIT ($) CREDIT ($) BALANCE ($) DATE Jul-01 DEBIT ($) POST REF. GJ EXPLANATION Office Supplies Owing CREDIT ($) 186 BALANCE ($) 186 Cr Task 1 Using the excel file provided for Completion Point 2 you must enter the transactions below into the Specialised Journals and then update the Ledger accounts as required. (The transactions below include previous transactions that you have completed using only the General Journal and a number of new transactions) Transactions July 1 July 2 July 4 July 6 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of $194.7 (including GST of $17.70) was received for early payment. Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received $450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100. All amounts are net of GST. Their invoice No: 726. July 8 July 12 July 13 July 15 Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 each (net of GST). Transactions continued July 16 July 16 July 19 July 20 July 20 Paid wages of $1,680 to Minnie's two part time employees Lei Zhee and Ena Jetic Made a cash purchase of $60 stationery (net of GST) from Little M department store. Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries. Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of $275 (including GST) Received a cheque from Unplugged Ltd of $1166 being full settlement of their account. Sold 100 meters of premium low voltage cable to Unplugged Ltd for $20 per meter (net of GST) The office supplies account of $186 was paid in full in cash. Minnie Armim withdrew $1,050 cash for personal use. Sold 3 Smart Meters to Hotels United for $350 each plus a delivery fee of $100 (all amounts are net of GST) Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including $40 GST) to The Big Telco for the last two months telephone and internet usage. July 21 July 23 July 25 July 27 July 29 July 30 A stocktake on July 31 reveals $4 140 worth of inventory on hand and $114 of stationery on hand. Prepaid insurance was paid for 3 months in advance on June 2020. Prepaid rent was paid for 6 months in advance on 1 June, 2020. Depreciation is only calculated at the end of the financial year and so no adjustments are required for these accounts. Addition information: Date Details Posting Reference DR CR 7/1/20 Petty Cash Imprest 91 210.00 Bank 90 3,860.00 Accounts Receivable Control 610 13,585.00 Unplugged Ltd - 726 X The Charity Stores - 2310 Developing Naturally - 4455 Hotels United - 6094 Inventory on Hand 111 3,090.00 Stationery on Hand 113 130.00 Prepaid Insurance 115 1,800.00 Prepaid Rent 116 10,000.00 Equipment 140 6,400.00 Premises 150 140,000.00 Vehicle 150 23,000.00 Allowance for Bad and Doubtful Debts 611 462.00 Accumulated Depreciation - Equipment 141 1,460.00 Accumulated Depreciation - Premises 151 21,000.00 Acc. Depreciation - Vehicle 161 229.00 Accounts Payable Control 800 7,887.00 Get Connected Ltd-4180 Reduce, Reuse, Get Rich - 1760 Flooded Industries - 1947 X Office Supplies Owing 205 186.00 Internet and Telephone Expenses Payable 210 481.00 Wages Expense Payable 220 862.00 GST 820 950.00 Big 4 Bank Mortgage Loan (5-year) 250 123,000.00 Capital - Minnie Armin 303 45,558.00 Opening Entry 202,075.00 202,075.00 7/1/20 Wages Expense Payable 220 862 Wages Expense 505 862 Reversing Entry 7/1/20 Internet and Telephone Expenses Payable 210 481.00 Internet and Telephone Expenses 510 481.00 Reversing Entry 7/1/20 Office Supplies Owing 205 186 Office Supplies Expense 520 186 Reversing Entry From my answer 4520 31/7 Sales 450 iinspection and energy report 159 Discount receive 519 Profit and loss summary 6907 31/7 Profit and loss summary 4140 Open Iventory July 31 2600 Purchase 150 Freight in ward 230 Stationary Expense 200 Income expense 818 Wages expense 440 Internet and telephone expense 186 office supplies expense 3333 rent expense Closing inventory July 1 Petty Cash Account No. 091 DATE Jul-01 CREDIT ($) POST REF GJ EXPLANATION Opening Entry DEBIT ($) 210 BALANCE ($) 210 Dr Bank Account No. 090 DEBIT ($) POST REF. GJ DATE Jul-01 CREDIT ($) EXPLANATION Opening Entry BALANCE ($) 3860 Dr 3860 Accounts Receivable Account No. 610 DATE Jul-01 CREDIT ($) POST REF. GJ EXPLANATION Opening Entry DEBIT ($) 13585 BALANCE ($) 13585 Dr Accounts Payable Office Supplies Owing Account No. 800 Account No. 205 DEBIT ($) POST REF. GJ DATE Jul-01 DEBIT ($) EXPLANATION Opening Entry CREDIT ($) 7887 BALANCE ($) 7887Cr DATE Jul-01 Jul-01 EXPLANATION Opening Entry Expense Payable Expense POST REF. GJ GJ CREDIT ($) 186 BALANCE ($) 186 186 Wages Expene Payable GST Account No. 220 Account No. 820 DEBIT ($) DATE Jul-01 Jul-01 DEBIT ($) EXPLANATION Opening Entry Wages Expense POST REF. GJ GJ CREDIT ($) 862 BALANCE ($) 862 Cr DATE Jul-01 POST REF. GJ EXPLANATION Opening Entry CREDIT ($) 950 BALANCE ($) 950 862 Internet and Telephone Expenses Payable Big 4 Bank Mortgage Loan Account No. 210 Account No. 250 DEBIT ($) DATE Jul-01 Jul-01 POST REF. GJ GJ EXPLANATION Opening Entry Telephone Expense CREDIT ($) 481 BALANCE ($) 481 Cr DEBIT ($) DATE Jul-01 POST REF. GJ EXPLANATION Opening Entry CREDIT ($) 123000 BALANCE ($) 123000 481 Cash Receipts Journal GST ate Particulars Post Ref Discount GST Accounts Receivable Sales Other Receipts Bank Cash Payments Journal GST ate Particulars Post RefDiscount GST Accounts Payable Purchases lother Payments Bank Sales Journal Accounts Receivable ate Particulars Post Ref Sales Freight GST Sales Returns Journal Sales Post Ref Returns Accounts Receivable ate Particulars Freight GST Purchases Journal ate Accounts Payable Particulars Post Ref Purcahses Freight GST Purchases Returns Journal Purcahse Post Ret Returns ate Particulars Freight GST Accounts Payable PURCHASES Wages Expense Account No. Account No. 505 POST REF DATE EXPLANATION DEBIT ($) CREDIT ($) BALANCE ($) DATE Jul-01 DEBIT ($) POST REF GJ EXPLANATION Wages Expense Payable CREDIT ($) 862 BALANCE ($) 862 Cr Freight Inwards Internet and Telephone Expenses Account No. Account No. 510 POST DATE EXPLANATION REF DEBIT ($) CREDIT ($) BALANCE ($) DATE Jul-01 DEBIT ($) POST REF GJ EXPLANATION Internet and Telephone Expenses Payable CREDIT ($) 481 BALANCE ($) 481 Cr Office Supplies Expense Account No. Account No. 520 POST REF. DATE EXPLANATION DEBIT ($) CREDIT ($) BALANCE ($) DATE Jul-01 DEBIT ($) POST REF. GJ EXPLANATION Office Supplies Owing CREDIT ($) 186 BALANCE ($) 186 Cr Task 1 Using the excel file provided for Completion Point 2 you must enter the transactions below into the Specialised Journals and then update the Ledger accounts as required. (The transactions below include previous transactions that you have completed using only the General Journal and a number of new transactions) Transactions July 1 July 2 July 4 July 6 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of $194.7 (including GST of $17.70) was received for early payment. Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received $450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100. All amounts are net of GST. Their invoice No: 726. July 8 July 12 July 13 July 15 Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 each (net of GST). Transactions continued July 16 July 16 July 19 July 20 July 20 Paid wages of $1,680 to Minnie's two part time employees Lei Zhee and Ena Jetic Made a cash purchase of $60 stationery (net of GST) from Little M department store. Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries. Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of $275 (including GST) Received a cheque from Unplugged Ltd of $1166 being full settlement of their account. Sold 100 meters of premium low voltage cable to Unplugged Ltd for $20 per meter (net of GST) The office supplies account of $186 was paid in full in cash. Minnie Armim withdrew $1,050 cash for personal use. Sold 3 Smart Meters to Hotels United for $350 each plus a delivery fee of $100 (all amounts are net of GST) Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including $40 GST) to The Big Telco for the last two months telephone and internet usage. July 21 July 23 July 25 July 27 July 29 July 30 A stocktake on July 31 reveals $4 140 worth of inventory on hand and $114 of stationery on hand. Prepaid insurance was paid for 3 months in advance on June 2020. Prepaid rent was paid for 6 months in advance on 1 June, 2020. Depreciation is only calculated at the end of the financial year and so no adjustments are required for these accounts. Addition information: Date Details Posting Reference DR CR 7/1/20 Petty Cash Imprest 91 210.00 Bank 90 3,860.00 Accounts Receivable Control 610 13,585.00 Unplugged Ltd - 726 X The Charity Stores - 2310 Developing Naturally - 4455 Hotels United - 6094 Inventory on Hand 111 3,090.00 Stationery on Hand 113 130.00 Prepaid Insurance 115 1,800.00 Prepaid Rent 116 10,000.00 Equipment 140 6,400.00 Premises 150 140,000.00 Vehicle 150 23,000.00 Allowance for Bad and Doubtful Debts 611 462.00 Accumulated Depreciation - Equipment 141 1,460.00 Accumulated Depreciation - Premises 151 21,000.00 Acc. Depreciation - Vehicle 161 229.00 Accounts Payable Control 800 7,887.00 Get Connected Ltd-4180 Reduce, Reuse, Get Rich - 1760 Flooded Industries - 1947 X Office Supplies Owing 205 186.00 Internet and Telephone Expenses Payable 210 481.00 Wages Expense Payable 220 862.00 GST 820 950.00 Big 4 Bank Mortgage Loan (5-year) 250 123,000.00 Capital - Minnie Armin 303 45,558.00 Opening Entry 202,075.00 202,075.00 7/1/20 Wages Expense Payable 220 862 Wages Expense 505 862 Reversing Entry 7/1/20 Internet and Telephone Expenses Payable 210 481.00 Internet and Telephone Expenses 510 481.00 Reversing Entry 7/1/20 Office Supplies Owing 205 186 Office Supplies Expense 520 186 Reversing Entry