Input all Transactions for January $2021,$ produce the required reports, and submit the report to the Brightspace folder $$ Assignment $2$ Part $2.$

Part II: Enter the source documents for January in Sage $50,$ using the information provided:

Trial Balance Jan. $31,2021$

Inventory Summary by item Jan. $31,2021$

Vendor Aged Summary Jan. $31,2021$

Customer Aged Summary Jan. $31,2021$

This project is designed to test all the accounting knowledge and skills you have learned in the introductory class, as well as your attention to detail and critical thinking abilities.

Some things to think about as you set up and do the work:

Is each of the customers and vendors set up properly with terms and tax codes, and where possible the main account for the items purchased or sold?

Are you able to store any entries to reuse later?

Note that the selling price listed in the inventory item list may not match the transactions. The prices listed in the transactions are to be considered correct.

Leave the History button alone till all the work is done. If you do this in the first $$year$,$ the opening balances and invoices may be adjusted if needed to reflect

what is actually needed.

Advance the Session Date to the end of the first week, and then each week as needed, or right to the end of January.

Assignment $2$ Part $2$: Higher Grounds Caf$$ & Roastery

Source Documents for Transactions

SESSION DATE $$ January $7,2021$

SD$1$: Payment Cheque #$701$ Dated Jan. $2/21$

To Essex Food Supplies, $$792$ in payment of account, including early payment discount. Reference invoice #EF$-613.$ From December $2020$

SD$2$: Sales Invoice #$581$ Dated Jan. $2/21$

To MainStream Marketing, for catering services. Large Thermos service $ $50$

Asst. Sandwich Trays $ $85$

Dessert Trays $ $80$ Bottled Mineral Water $ $30$

Subtotal $$245$

Add: HST $13\%$

TOTAL $$276\mathrm{.}85$

Terms: $1/10,$ N$/30$

SD$3$: Payment Cheque #$702$ Dated Jan. $2/21$ To River City Gift Co$.,$ $$504\mathrm{.}90$ in payment of account, including early payment discount. Reference invoice #$521.$ From December $2020$

SD$4$: Cash Receipt #$150$ Dated Jan. $2/21$

From: Lockhart, Gardner & Bond, by Online Payment #$2378$ for $$291\mathrm{.}06$ in payment of account includes a discount for early payment. Reference invoice #$2378.$ From December $2021$

This will cause a pop$-$up window asking for accounts to be chosen for, Bank for these types of deposits, and the expense account to use for fees, which are $$1\mathrm{.}00.$

SD$5$: Cash Receipt #$151$ Dated Jan. $4/21$

From MainStream Marketing, cheque #$94$ for $$615\mathrm{.}63$ in payment of account

includes a discount for early payment. Reference invoices #$579$ and $580.$

Deposit to Undeposited funds.

SD$6$: Purchase Invoice #EF$-720$ Dated Jan. $5/21$ From Essex Food Supplies, $$950,$ no tax, $($Food for resale$)$ for weekly order of pastries, breads, condiments, and other foods. Terms $1/10,$ N$/30($charge to food inventory $-1340)$

SD$7$: Credit Card Sales Invoice #$582$ Dated Jan. $6/21$

Sales Summary for Caf$$ credit card sales $($to cash customers$)$

$10$ CF$02$ Rainforest Blend $5$lb

$ $53$ea

$ $530\mathrm{.}00$

$6$ CF$06$ Kenyan $5$lb

$60$ea

$360\mathrm{.}00$

$8$ CF$08$ Blue Mountain $5$lb

$67$ea

$536\mathrm{.}00$

$10$ TE$06$ Black

$25$ea

$250\mathrm{.}00$

$12$ TE$08$ Chai

$19$ea

$228\mathrm{.}00$

$4$ MT$02$ Ceramic Cups

$8$ea

$32\mathrm{.}00$

$2$ MT$01$ Glass Teapots

$35$ea

$70\mathrm{.}00$

Caf$$ customers sales and services

$2,715\mathrm{.}00$

Subtotal

HST

$13\%$

$$4,721\mathrm{.}00$

$613\mathrm{.}73$

Invoice total paid by credit cards $$5,334\mathrm{.}73$

SD$8$: Credit Card Sale Return #$582-$R Dated Jan. $7/21$

Return to Cafe by customers $($to cash customers $$ returns and allowances$)$

$-2$

MT$02$

Ceramic Cups

$8$ea

$-$$$16\mathrm{.}00$

$-1$

MT$01$

Glass Teapots

$35$ea

$-$$$35\mathrm{.}00$

HST

$13\%$

$-$$$6\mathrm{.}63$

Total credited to credit card account $-$$$57\mathrm{.}63$

SD$9$: Payment Cheque #$703$ Dated Jan. $7/21$ To Orient Tea Company Co$.,$ $$726\mathrm{.}00$ in payment of account, no early payment discount. Reference invoice #$2875$

SESSION DATE $$ JANUARY $14,2021$

SD$10$: Sales Invoice #$583$ Dated Jan. $8/21$

To MainStream Marketing, for catering services.

Large Thermos Service $ $50$

Asst. Sandwich Trays $ $85$

Dessert Trays $ $80$

Bottled Mineral Water $ $30$

Subtotal $$245$

Add: HST $13\%$

TOTAL $$276\mathrm{.}85$

Terms, $1/10,$ NET $30$

SD$11$: Memo #$1$ Dated Jan. $8/21$

New inventory items required for Valentine$$s Day gift packages. Create new

asset Group account $1350$ Gift Sets. Create new inventory record.

Number Description

Min.

Selling Price

$/$unit

GS$01$ Cocoa Lovers Gift Set

$1$

$$39\mathrm{.}50$

$/$pkg

Linked Accounts: Asset $1350($Gift Set, Inventory$)$

Revenue $4020$

COGS $5005$

SD$12$: Item Assembly #ITA$-1($use Item Assembly$)$ Dated Jan. $8/21$

Assemble $10$ GS$01$ Cocoa Lovers gift sets; transfer component items as follows: $10$ CO$01$ Cocoa Powder $1$lb $$6\mathrm{.}25$ ea

$20$ MC$01$ Coffee Mugs $5\mathrm{.}65$ ea Additional Costs $18\mathrm{.}00$

Assembled Items:

$10$ GS$01$ Cocoa Lovers Gift Set $19\mathrm{.}35$ each set

Save as a random recurring transaction.

SD$13$: Purchase Invoice #AB$-1376$ Dated Jan. $9/21$

From Ambassador Cleaning Services, $$325$ plus HST for weekly cleaning of caf$$ premises. Invoice total $$367\mathrm{.}25.$ Terms $1/10,$ n$/30$

SD$14$: Cash Purchase Invoice #WL$-4329$ Dated Jan. $10/21$ From Windsor Life Magazine, $$1,500$ plus HST for $12$ quarter page full colour ads, for an annual advertising campaign which launches March $2021.$ Terms: cash on rece