Week 2

Date

Transaction description

8

Purchased 13 boxes of Sprearmint Gum from Gillard Wholesalers for $208 each, terms net 30.

10

Paid the full amount owing to Hershel's, Check No. 405. Payment fell outside discount period.

11

Sold 17 boxes of Hazelnut Toffee to Central Candy for $376 each, Invoice No. 870.

11

Paid sales staff wages of $2,031 for the week up to and including yesterday, Check No. 406.

12

Made cash sale of 30 boxes of Organic Chocolate for $992 each.

13

Paid the full amount owing to Restlay, Check No. 407.

13

Paid the full amount owing to Brennan Imports Group, Check No. 408.

13

Candy Man paid the full amount owing on their account. Since Candy Man has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment.

SALES JOURNAL

Date		Account	Invoice No.	Post Ref.	Accounts Receivable	Cost of Goods Sold
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)

PURCHASES JOURNAL

Date		Account	Terms	Post Ref.	Accounts Payable
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)

QUESTION: what do i include in the sales and purchase journal, and how do I record them in the two tables above?