QUESTION THREE GENERAL LEDGER 21 MARKS ACCOUNTS RECEIVABLE Jul 1 Balance 1,000 Gloria from Gloria's Garden Omaments Ltd has asked you to post the following transactions into her general ledger and take out a trial balance at the end of July. The opening balances have been entered for you (except for share capital). e t t Jul 94 Bought stock on credit, $1,200.- 10+ Paid $80 on the bank loan, including $10 intereste + Cash Sales $1,800; cost price $1,300.- 16+ Paid wages $900.- Sold ornaments on credit, $2,000; cost price $1,500.- 18+ Customer returned goods bought on credit $500; cost price $375.- 20+ Received 60% of the opening balance from debtors.- Issued 5,000 shares for 50 cents each.e 25 Paid $1,150 to a creditore 31+ Bought a new EFTPOS machine on credit, $8,000.- INVENTORY Jul 14 Balance 2,000 de 4 t. REQUIRED: SHOP EQUIPMENT 25,000 Jul 34 Balance 1 Calculate the opening balance for share capital and enter it in the share capital ledger account 2 Post the transactions for July 3 Balance the ledger accounts as at 31 July 4. Take out a trial balance as at 31 July. de GLORIA'S GARDEN ORNAMENTS LTD GENERAL LEDGER ACCOUNTS PAYABLE BANK 15,000 Jul 14 Balance 2,300 Jul 1 Balance le JA 4 JA de 4 ACCOUNTS PAYABLE - OTHER COST OF GOODS SOLD BANK LOAN Jul 14 Balance 8,000 WAGES RETAINED EARNINGS e INTEREST Jul 1 Balance 10,900 HA SHARE CAPITAL (19 marks) SALES SALES RETURNS GLORIA'S GARDEN ORNAMENTS LTD TRIAL BALANCE AS AT 31 JULY 20212 DRS CRS de da de d d d de (2 marks)