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Lina & Luna formed a partnership retailing laptops and providing software installation services. They run the business under the name of Tech Savvy. Their price
Lina & Luna formed a partnership retailing laptops and providing software installation services. They run the business under the name of Tech Savvy". Their price list and unit costs (if applicable) are shown below. Products Price List ($) Unit Cost ($) Laptop Delly @ $495.00 (GST Inclusive) @ $330.00 (GST Inclusive) Laptop Lenno @ $880.00 (GST Inclusive) @ $605.00 (GST Inclusive) Software installation @ $148.50 (GST Inclusive) Tech Savvy is registered for GST, and the following transactions occurred during the first five working days of April 2020 (Monday, 6 April - Friday, 10 April 2020). April 6 7 The business sold two (2) x Laptop Delly to Deakin College. Invoice was sent immediately after delivery. Payment would be received on the following Monday, 13 April 2020. The business returned three (3) x Laptop Lenno to its suppliers as the screens were all cracked. The business received cash refund immediately. The business purchased ten (10) x Laptop Delly on credit, net 15. The business provided three (3) x software installation to La Dida College in Bundoora, VIC. Payment was received immediately after the services. 7 8 8 9 On the way to back from Bundoora, VIC, Luna went to Coles and got herself an ice cream for $4.40 (GST Inclusive). She used the business debit card to pay for the ice cream. The business paid annual insurance premium totalling $1,320 (GST Inclusive). The business made repayment to their ANZ business loan - totalling $3,500. The business received interest revenue of $355 from their savings account. The business recorded unpaid salaries of $2,300 for the week. 10 10 10 Required: Record the transactions provided above in the general journal provided. (10 marks) Please type in your answers below: Date Accounts DR ($) CR ($)
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