Schedule of Accounts Receivable as at 31 May 2018
Acc No	Account		Invoice date	Amount
101-1	Rosie's Bunches		28-05-2018	1512
101-2	The Enchanted Florist		14-05-2018	764
101-3	Blossoms		17-04-2018	1034
101-7	Flowers by Nala		29-05-2018	470
				3780
Schedule of Accounts Payable as at 31 May 2018
Acc No	Account		Invoice date	Amount
200-1	The Flower Pot		27-05-2018	690
200-2	Florist Warehouse		19-05-2018	1748
				2438

Prepare the following worksheet and the journal entries using the templates below after which income statement and balance sheet is to be prepared.

June 2018 Transactions Date Transaction 01-06-2018 The Enchanted Florist purchased flowers for an upcoming wedding for $1084 which has not yet been paid. They paid the delivery fee of $120 01-06-2018 Rosie's Bunch paid the entire balance of their account 02-06-2018 Paid the amount owing to the Flower Pot 03-06-2018 Cash sales for the week were $306 06-06-2018 Blossoms paid $434 towards its amount owing 07-06-2018 Made a purchase from Florist Warehouse $930 in preparation for a christening 07-06-2018 Paid for the purchase of store supplies for $88 08-06-2018 Rosie's Bunches purchased inventory $1092 09-06-2018 Some of the flowers purchased on 7 June from Florist Warehouse were the wrong colour. Returned inventory in exchange for a credit note of $300 10-06-2018 Recorded case sales for the week of $306 13-06-2018 Purchased inventory from the Flower Pot for $1530 14-06-2018 Sold inventory to Blossoms $1974 on credit. Delivery fee of $150 paid 15-06-2018 Paid office staff salaries $1166 15-06-2018 Paid Sales staff wages of $990 16-06-2008 Paid the amount owing to Florist Warehouse 17-06-2018 Recorded cash sales for the week of $397 20-06-2018 Blossoms returned $374 of inventory purchased on 14 June. Issued credit note 21-06-2018 Paid $200 for staff celebration. Recorded as a sundry expense 22-06-2018 Purchased inventory from the Florist Warehouse for $1490 23-06-2018 Received total amount owing from Blossoms 24-06-2018 Recorded case sales for the week of $624 27-06-2018 The Enchanted Florist paid the entire balance of its account 28-06-2018 Paid $1200 of the amount owing to Florist Warehouse 29-06-2018 A dividend of $2800 was declared. To be paid in Oct 2018 29-06-2018 Paid Sales staff wages of $990 30-06-2018 Issued additional shares to the owners for cash of $2000 30-06-2018 Recorded cash sales for the week of $372 Adiusting Entries a) b) New store shelving was installed on 1 July 2017. It has a useful life of 9 years The computers have a useful life of 10 years. 12 months of store rent was prepaid on 1 March 2018 A count of store supplies indicates that $1355 remain on hand at year end A one-year insurance policy was purchased on 1 Nov 2017 for $180 Interest on the bank loan is charged at 7% and paid annually on 1 August A telephone bill for $102 for June was received on 2 July. The amount has not yet been recorded Estimated tax payable for the year ended 30 June 2018 is $2800. This amount is due in Sept 2018 The closing balance of inventory was $22484 d) e) g) h) Unadjusted trial balance at 31 May Unadjusted June 2018 Trial Balance sted Trial Balance Closing Entries Final Trial Balance Rof Rof 01 Acco unts Receivable 104 Prepaid Store rent (paid 1 Mar 2018) 105 Prepaid Insurance (paid 1 Nov 2017) 350 2438 250 Bank Loan (due 1 June 2018) 301 Retained Earnings(1July 2017 303 Profit and Loss Sum mary 139 30585 402 Sales Returns and Alowances 601 Wages Expense-Sales Staff 602 Depreciation Expense Store Shelving 15367 696 612 Salaries Expense-Office Staff 12074 Journal No Date Account Post Ref Dr Journal N D ate Account Post Ref Dr General ournal N DateAccount Post Ref Dr Cr