The company began operations as a retailer on 30-June-2022. It buys and sells one inventory item, 'Office Tables', from a leased warehouse in the outer suburbs of Melbourne. The company is registered for GST which it pays quarterly. Assume GST was last paid on 31-Oct-2022 It uses the Weighted Average cost allocation method and the perpetual inventory recording method. The company uses the straight line depreciation method for office furniture, motor vehicles, and computers. The company employs two people who are rostered over a seven day working week. The employees are normally paid fortnightly up to and including the day of payment. The company has one debtor (Debtor1) and one creditor (Creditor1). Terms for all credit sales and purchases are N/30. 3. Additional information Selling Price per unit is $308 (including GST). Insurance paid for 12 months in total. Insurance commences from the first day of the month in which it is paid. All asset purchases (including inventory cost per unit) and expenses (except wages) include GST. Cost of opening inventory items per unit \$70 this amount excludes GST. Depreciation rate motor vehicle 10%. The residual value of motor vehicle is assumed to be $759. Depreciation rate office furniture 20%. The residual value of office furniture is assumed to be $1116. Regardless of purchase date, company policy is to depreciate new assets for 15 days in the month of purchase. Depreciation rate computer equipment 35%. No residual value is expected for computer equipment. The company counted inventory at the end of the month. They discovered that 6 units were missing and these must be removed from inventory. Office supplies on hand at end of the month were $963. At the end of the month the company records potential bad debts expense using the percentage of sales method. The business uses 1% of sales to determine estimated bad debts. There is $160 of interest owing on the bank loan at the end of the month that has yet to be recorded. Specific Requirements Data and transactions are available through Content Assessment Resources Assessment Task 3 - Practical Case Study. 1. Sort all transactions in the order of date (transactions must be recorded in date order). This will be critical to the calculation of cost of goods sold. 2. Record the opening balances and all transactions (including balance day adjustments) in the general journal (narrations not required). 3. Prepare the stock card for all inventory transactions to determine the cost of goods sold and closing balance. 4. Post all journal entries to the general ledger. You need to complete the general journal, stock card, the general ledger, and the adjusted trial balance in the Excel document provided. Transactid