OPTIONS FOR ACCOUNTS Are:

Cash at Bank

Accounts Receivable

GST Paid

Merchandise Inventory

Accounts Payable

GST Collected

Share Capital

Retained Earnings

Dividend

Sales Revenue

Sales Returns and Allowances

Sales Discount(D/C Allowed)

Purchase

Purchase Returns and Allowances

Purchase Discount(D/C Received)

Freight Inward

Freight Outward

Advertising Expense

Rent Expense

Wages expense

Eboy Trading Pty Ltd uses a FIFO periodic inventory system. The company incurred the following transactions for the month of June 2021. Date Transactions 1/06/2021 Issue of additional shares by private placement, $80,000 5/06/2021 Purchased inventory on credit for $70,000 plus GST; terms: 2/10, n/45 5/06/2021 Paid freight cost of $1,000 plus GST on June 5 purchase (3rd party) 7/06/2021 Returned inventory on June 5 purchase, costing $5,500 incl. GST 10/06/2021 Paid the supplier for the June 5 purchase in full, less discount 13/06/2021 Sold merchandise on credit for $110,000 plus GST to Nancy: 3/15, n/45 15/06/2021 Nancy returned inventory sold on 13 June, $11,000 incl. GST 19/06/2021 Nancy paid the remaining balance with discount by check 20/06/2021 Paid rent for June, $3,300 incl. GST 22/06/2021 Paid $4,000, plus GST, for google advertisement 30/06/2021 Paid wages for June, $20,000 30/06/2021 The company declared and paid dividend, $30,000 Journalise the transactions for the month of June 2021 Date Accounts Debit Credit 1/06/21 Issue of Share GST Paid 5/06/21 - Purchase on credit GST Paid 5/06/21 Cash payment on freight Inwards . 7/06/21 GST Paid Purchase Returns Cash at bank 10/06/21 GST Paid Payment less discount 13/06/21 GST Collected Sales on credit GST Collected 15/06/21 - Sales Returns Sales Discount (D/C Allowed) 19/06/21 GST Collected Receipt of payment with discount . GST Paid 20/06/21 Rent payment Advertising Expense - 22/06/21 Cash payment for Advertisement 30/06/21 Paid wages A 30/06/21 Dividend paid