prepare a trial balance as at june 30.

June 1 The owner opened a bank account for the business with a deposit of $22,000. This is capital provided by him. 1 Purchased display stands, shelving etc. (shop equipment) from Shop Displays Pty Ltd for $27,000 and computer equipment for the shop from Computer Wizards for $4,300. These were paid for with a loan of $26,000 from the bank and cheque for $5,300 from the business bank account. The bank loan is repayable over 4 years. 1 Paid $3,990 for a 1-year insurance policy covering fire, theft, and public liability. 2 Purchased inventory (skateboards and protective gear) from Excitement Plus for $20,500 on terms on net 30 . 5 Cash purchase of postage stamps and stationery from Australia Post for $450. 7 Purchased surfboards and wetsuits from Surf Imports for $18,220 on terms of 10/10,n/30. 8 Paid $1,400 to Local Newspapers for advertising for the shop for the month. 8 Paid Surf Imports the amount owing to them less the prompt payment discount. 11 Credit sale to Surfing World of various inventory items for $7,200 (cost of sales $3,680 ). Terms net 30 . 12 Credit sale to Academy Diving School of 14 wetsuits at a discounted price of $280 each on terms of net 15. Cost of sales $2,300. 13 Credit sale to Serious Fun of skateboards and protective gear for $4,900 (cost of sales $1,900 ). This customer was given terms of 5/10,n/30. 14 Cash sale of a skateboard and protective gear for $430 (cost of sales $190 ). 18 Received a cheque from Serious Fun for the amount owing by them after deducting the prompt payment discount. 23 Cash sale of inventory to the value of $1,000 (cost of sales $440 ). 24 Issued an adjustment note (credit note) to Academy Diving School for 4 wetsuits at $280 each that was not the size 25 Paid Excitement Plus $4,900 of the amount owing to them. 26 Credit sale to Serious Fun of skateboards for $6,500 (cost of sales $2,800). Terms 5/10, n/30. 27 Purchased wetsuits from Surf Imports for $7,100 on terms of 10/10,n/30. 27 Received and banked a cheque from Academy Diving School for the amount owing by them. 30 Paid Energy Australia $230 for electricity expenses. 30 The owner cashed a cheque for $1,760 to pay wages to Scott Walker the sales assistant of $840 less PAYG Withholding of $60, and $980 drawings for himself. \begin{tabular}{ll|ccr} \hline \multicolumn{1}{l|}{ PAYG withholding payable } & No.210 \\ \hline Date & Debit & Date & Details & Credit \end{tabular} \begin{tabular}{|l|ccc|} \hline \multicolumn{2}{|c|}{ Discount received } & & \\ No.420 \end{tabular}