Trout Swimming School uses a sales journal, purchases journal, cash receipts journal, cash payments journal and a general journal. The business also maintains subsidiary ledgers for accounts receivable and accounts payable, in addition to the related control accounts (ignore GST). The relevant account balances as of December 31, 2019 were as follows.

Account No.	Account Title	Account balance
		Debit	Credit
100	Cash at Bank	$54,000
120	Accounts Receivable	66,000
140	Inventory	95,000
200	Equipment	1,250,000
300	Accounts Payable		$55,000
330	Bank Loan		600,000
400	S. Salmon, Capital		810,000
500	Sales		-
510	Sales Returns and Allowances	-
520	Discount Received		-
600	Purchases	-
610	Discount Allowed	-
		$1,465,000	$1,465,000

The accounts receivable and accounts payable subsidiary ledger balances were as follows.

Accounts Receivable		Accounts Payable
M. Falzon	$13,200	Nelligan Ltd	$11,000
S. H. Guan	8,800	Pellham & Co	11,000
R. Jamal	22,000	Yap United Ltd	33,000
Khalil	16,500
K. Mezzini	5,500
	66,000		$55,000

The following transactions occurred during the first quarter of 2020.

Jan 3	S. H. Guan took advantage of the 2% sales and paid off her account
11	Sold a $10,000 item to K. Mezzine on account, invoice no. 401
15	Purchased $30,000 of inventory from Pellharm & Co on credit. Terms 2/10, n/30
18	Received $6,000 from M. Falzon on his account. No discount was allowed.
20	Paid $11,000 to Pellham & Co on its previous account balance. No discount was taken.
25	Paid $30,000 owing to Pellham & Co, taking advantage of the 2% discount.
Feb 10	A cash sale of $20,000 was made to a new customer, E. Tsiros
14	R. Jamal paid $11,000 on his account, outside the discount period
23	Sold a $5,000 item to K. Mezzini on account, invoice no. 402
28	Paid $22,00 on the Yap United Ltd account. No discount was received.
Mar 4	Purchased $40,000 in inventory from Nelligan Ltd on credit. Terms n/30.
16	Sold a $500 item to A. Khalil on account, invoice 403
22	Paid $22,000 on the Nelligan Ltd account
27	A $500 sales allowance was given to A. Khalil, due to a defective product.

Required

1. Enter the first quarters transactions in the appropriate journals. Refer to the provided Chart of Accounts for the appropriate account names.
2. Prepare a trial balance as at March 31, 2020.

1. Enter the first quarters transactions in the appropriate journals.

ABCcDdi AalbCcDd AaBbCcDdE AaBbCcDc Normal No Spacing Heading 1 Heading Trout Swimming School uses a sales journal, purchases journal, cash receipts journal, cash payments journal and a general journal. The business also maintains subsidiary ledgers for accounts receivable and accounts payable, in addition to the related control accounts (ignore GST). The relevant account balances as of December 31, 2019 were as follows. Account No. Account Title 100 120 140 200 300 330 400 500 510 520 600 610 Cash at Bank Accounts Receivable Inventory Equipment Accounts Payable Bank Loan S. Salmon, Capital Sales Sales Returns and Allowances Discount Received Purchases Discount Allowed Account balance Debit Credit $54,000 66,000 95,000 1,250,000 $55,000 600,000 810,000 $1,465,000 $1.465,000 The accounts receivable and accounts payable subsidiary ledger balances were as follows. Accounts Receivable M. Falzon S. H. Guan R. Jamal A. Khalil K. Mezzini Accounts Payable $13,200 Nelligan Ltd 8,800 Pellham & Co 22,000 Yap United Ltd 16,500 5.500 66,000 $11,000 11,000 33,000 $55,000 The following transactions occurred during the first quarter of 2020. Jan 3 S. H. Guan took advantage of the 2% sales discount and paid off her account 11 Sold a $10,000 item to K. Mezzine on account, invoice no. 401 15 Purchased $30,000 of inventory from Pellharm & Co on credit. Terms 2/10, 1/30 18 Received $6,000 from M. Falzon on his account. No discount was allowed. 20. Paid sillood to Pelham & Colorlits previous account balance. No discount was taken Paid S3000d owing to Pellhan & Coltaking advantage of the 2% discount Feb 10 A cash sale of $20,000 was made to a new customer, E. Tsiros 14 R. Jamal paid $11,000 on his account, outside the dis unt period 23 Sold 5.000 item.tok Mezzini on account invoice no.402 Mailings Review View AE AaBCeDdi AaBbCcDdE AaBbccde AaBbCcDd No Spacing Heading 1 Heading Normal K. Mezzini 5,500 66,000 $55,000 The following transactions occurred during the first quarter of 2020. Jan 3 S. H. Guan took advantage of the 2% sales discount and paid off her account 11 Sold a $10,000 item to K. Mezzine on account, invoice no. 401 15 Purchased $30,000 of inventory from Pellharm & Co on credit. Terms 2/10, 1/30 18 Received $6,000 from M. Falzon on his account. No discount was allowed. 20 Paid $11,000 to Pellham & Co on its previous account balance. No discount was taken. 25 Paid $30,000 owing to Pellham & Co, taking advantage of the 2% discount. Feb 10 A cash sale of $20,000 was made to a new customer, E. Tsiros 14 R. Jamal paid $11,000 on his account, outside the discount period 23 Sold a $5,000 item to K. Mezzini on account, invoice no. 402 28 Paid $22,000 on the Yap United Ltd account. No discount was received. Mar 4 Purchased $40,000 in inventory from Nelligan Ltd on credit. Terms n/30. 16 Sold a $500 item to A. Khalil on account, invoice 403 22 Paid $22.000 on the Nelligan Ltd account 27 A $500 sales allowance was given to A. Khalil, due to a defective product. 2 Required (a) Enter the first quarter's transactions in the appropriate journals. Refer to the provided Chart of Accounts for the appropriate account names. (b) Prepare a trial balance as at March 31, 2020. (a) Enter the first quarter's transactions in the appropriate journals. Review View *N AaBb CeDdi AaBbceDdE AaBbccde AaBbccd Heading Normal No Spacing Heading 1 Purchases Journal Page 1 Account Terms Post Ref. Date 2020 Purchases Sales Journal Page 1 Invoice No. Account Terms Post Ref. Sales Date 2020 Review View AaBbceDdE AaBbCcDdE AaBCCD Heading 9 Normal No Spacing Heading 1 Cash Receipts Journal Page 1 Date Account Post Ref Cash at Bank Sales Discount Allowed Accounts Other Receivable Accounts Cash Payments Journal Page 1 Date Account Purchases Sales Post Ref Accounts Payable Cash at Bank Discount Received General Journal Page 1 Dne Account Post Ref Debit Credit To record the provision of sales allowance ini 1 ABCeDdl AaBbCcDdE AaBbCcDd AaBbcc Iuli Heading Normal No Spacing Heading (b) Prepare a trial balance as at March 31, 2020. Marks: 12 TROUT SWIMMING SCHOOL Trial Balance as at March 31, 2020 Account No. Debit Account Credit