Question
REDBACK Pest Control commenced business on 1 May and during May had the following transactions. All sales, purchases and expense payments include GST except Salaries.
REDBACK Pest Control commenced business on 1 May and during May had the following transactions. All sales, purchases and expense payments include GST except Salaries. Date Transaction 01/05 Redback Pest Control commenced business with cash $20,000, inventory $4,000 and office furniture $6,000. (No GST required for this transaction). 03/05 Inventory purchased on credit from J. Scott $3,300 (inc GST) 05/05 Purchased delivery van on credit from Master Motors $12,100 (inc GST) 12/05 Paid J Scott $3,300 owing. LESS 5% discount for early payment 13:05 Credit sales to W. Wander $990 (inc GST) 16/05 Cash sales $3,190 (inc GST) 19:05 Paid salaries $1,040 (no GST) 2005 Sent a credit note to W. Wander for damaged goods, $110 (inc GST) 23/05 Bought office fumiture for cash from Steptoe for $550 (inc GST) 26/05 Owner took goods for his own use $770 (inc GST) 28-05 W Wander declared bankrupt. Account of $880 (inc GST) is to be written off as a bad debt Required: Record all of the above transactions for REDBACK Pest Control in the General Journal provided below. Date Particulars Folio Debit Credi
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