journal entries
Period three: 13 September to 19 September 2020 Date Details 13 September You sold 60 SKU112822, 60 SKU112825 and 30 SKU112827 to The Cycle Gear. The Code Gear paid you a deposit of 85% of the total sale into your bank account and agreed to pay the remaining 15% on 25" September 14 September You received the full payment less discount from Road Eagles for their purchase on 7 September 15 September You paid Ad Ready 57,959.6 incl. GST for online advertisements. These ads wil run over the next 3 months, with an end date of 15" December 2020 16 September 17 September You sold 30 SKU112825 and 30 SKU112827 to Bike Gallery. Bike Gallery paid you the full amount into your bank account. You sold 20 SKU112821 and 24 SKU112825 to Bike & Run. Bike & Run paid you a deposit of 90% of the total sale into your bank account and agreed to pay the remaining 10% on 22 September. You paid an invoice for the current period's fuel bill of $165 ind. GST from Apache Petrol plus 1% transaction fee. Transaction fee includes GST 17 September 17 September Paid Blissful Pedals in full for the purchase on 8 September 18 September After several attempts to collect receivables from Bicycle Workshop you finally write off Bicycle Workshop accounts as bad. 18 September You received 90% of the receivables from Bike Friday. Bike Friday agreed to pay the remaining 10% on 18 October Details of transactions for Period 3: 13 to 19 September 2020 Page 8 of 16 Period three: 13 September to 19 September 2020 Date Details 13 September You sold 60 SKU112822, 60 SKU112825 and 30 SKU112827 to The Cycle Gear. The Code Gear paid you a deposit of 85% of the total sale into your bank account and agreed to pay the remaining 15% on 25" September 14 September You received the full payment less discount from Road Eagles for their purchase on 7 September 15 September You paid Ad Ready 57,959.6 incl. GST for online advertisements. These ads wil run over the next 3 months, with an end date of 15" December 2020 16 September 17 September You sold 30 SKU112825 and 30 SKU112827 to Bike Gallery. Bike Gallery paid you the full amount into your bank account. You sold 20 SKU112821 and 24 SKU112825 to Bike & Run. Bike & Run paid you a deposit of 90% of the total sale into your bank account and agreed to pay the remaining 10% on 22 September. You paid an invoice for the current period's fuel bill of $165 ind. GST from Apache Petrol plus 1% transaction fee. Transaction fee includes GST 17 September 17 September Paid Blissful Pedals in full for the purchase on 8 September 18 September After several attempts to collect receivables from Bicycle Workshop you finally write off Bicycle Workshop accounts as bad. 18 September You received 90% of the receivables from Bike Friday. Bike Friday agreed to pay the remaining 10% on 18 October Details of transactions for Period 3: 13 to 19 September 2020 Page 8 of 16
