Honey Rose decides to start her new caf business FlavCity Caf. As she is new to the business world, she has asked your accounting team to help with the recording of transactions in the journal, the posting of information to the general ledger and the preparation of a trial balance and key financial statements at 30th June. FlavCity Caf has recorded the following transactions:

1. Received $30,000 cash from Honey Rose as a shareholder and issued shares to Honey Rose

2. Received an electricity bill for $250 with a payment due date of next month

3.Purchased $500 of coffee supplies on account, payment terms of 30 days

4. Records cash sales of $12000 for services rendered during the period 3rd June to 30th June

5. Purchases inventory of 50 coffee gift packs on credit for $1500

6. Sold 20 coffee gift packs to the Centre of Social Justice and Equality on account for $1000 (you may ignore cost of sales for this transaction).

7. Paid $250 for the coffee supplies purchased in transaction 3

8. Honey Rose made a donation to the UTS Business Society using her personal funds of $1000

9. Collected $500 cash from the sale made in transaction 6

10. Paid the following cash expenses: Lease $4000, Employee salary $2500, utilities $600

Note: Any bills related to utilities (which are everyday basic amenities to the business such as water, gas, electricity, internet) are recorded in the Utilities expense account. Revenue accounts are subdivided into service sales and product sales at the transaction level, and then aggregated into a single revenue line item at the business (ledger, trial balance and financial statement) level.