PART 1: Journals 1.1 Using the table of transactions below, and the additional invoices on the next page, enter transactions for the month of December 2020 into the relevant journals (stationery provided), for Jane's Design World. All transactions in the table have been approved by Jane Lent and work is to be carried out in accordance with the policies and procedures of Jane's Design World found on the intranet (Canvas). 1.2 Jane has just received an additional two invoices and has requested that you also enter them into the journals for the current month. Before entering them, check all calculations and information for accuracy. If you identify any errors, make the adjustment on the document by putting a line through the incorrect figure, write the correct figure underneath and write your initials (name) next to any changes. You can assume you have contacted the supplier to confirm the adjustments. Then enter the correct amounts into the journals. Your teacher will authorise any changes (on behalf of Jane) when you submit your assignment. Ensure you total the journals and cross add to check your calculations. 1.1 table of transactions to be entered into the journals Dec Jane Lent commenced business by contributing $25,000 into a business bank account. 2020 She also contributed: Stock of supplies valued at $15,000, a Motor Vehicle valued at $38,000, Computer Equipment valued at $5,500, Fixtures & Fitting valued at $17,000 and has a loan on the Motor Vehicle with ABZ Bank for $20,000 1 Paid Harris Real Estate for rent of premises $1,650.00 Inc. GST (EFT) 2 Purchased goods on credit from Bayside Furnishings for $11,000 Inc. GST (Invoice 5548) 4 Paid Leader Newspapers $1,540.00 Inc. GST for advertising (cheque 22) 6 Cash sales $825.00 Inc. GST (POS) 8 Received invoice 221 for $2,420.00 Inc. GST from 'CG You Insurance' for public liability insurance 10 Paid $605.00 Inc. GST to Complete Office Supplies for stationery supplies (EFT) Sold goods on credit to Rugs R Us for $1,045.00 Inc. GST (invoice 12) 14 Paid wages $900.00 (EFT) Paid creditor Bayside Furnishings for invoice 5548 and received a discount of $110 (Inc GST). cheque 23 16 Cash sales $968.00 Inc. GST (POS) Paid 'Clean & Shine P/L' $165.00 Inc. GST for cleaning expenses (EFT) 18 Purchased goods on credit from Homewares Manufacturing for $8,360.00 Inc. GST (invoice A32) Rugs R Us returned goods from Invoice 12 worth $253.00 Inc. GST, and Jane issued them with an adjustment note no. CN001 20 Paid the Energy World for monthly power bill of $726.00 Inc. GST (EFT) Paid 'CG You Insurance' for invoice 221 on cheque 24 21 Cash sales of throw pillows $473.00 Inc. GST (POS) Sold goods on credit to 'Penny's Place' for $583.00 Inc. GST (invoice 13) 24 Purchased supplies for the staffroom from Food Direct $88.00 Inc. GST (EFT) Jane took $418 (Inc. GST) worth of homewares to give as a gift to her sister. 26 Received invoice 877 from TelCo for Jane's mobile phone plan $198.00 Inc. GST Returned items purchased on invoice A32 worth $1,540.00 Inc. GST to Homewares Manufacturing and was issued with credit note CRN41. 27 Paid wages $900.00 (EFT) 29 Penny's Place paid their account, deducting discount of $55 (Inc. GST) from the amount owing, for prompt payment (EFT) 30 Received $40.00 bank interest (EFT) 1.2 Additional invoices (to be checked and entered) - on next page Sold to: Jane's Design World 21 View Lane Croydonville 3136 Particulars Quantity Rate S 10 50.00 500 00 10 x Bar Stools 10 x Occasional tables 10 100.00 1,000 00 GST 105 00 TOTAL AMOUNT 1,605 00 TAX INVOICE Invoice no: PP15 From: Bayside Furnishings ABN: 23 852 456 987 Date: 28th December2020 Sold to: Jane's Design World 21 View Lane Croydonville 3136 Particulars Assorted floor rugs GST Quantity Rate $ 30 110.00 3,300 00 330 00 TOTAL AMOUNT 3,600 00