What adjustments to the myob file would have to be made?

INTEGRATED CASE STUDY (TOTAL OF 40%) TOY ZONE PTY LTD Background Information: The date is Monday 30 June 2015. The time is 3:00 pm. As the external accountants and tax advisors of Toy Zone Pty Ltd, you are in a meeting with your clients, Laura Watson and Christine Young. The purpose of the meeting is to review the draft MYOB management accounts of Toy Zone Pty Ltd for the year ended 30 June 2015 which have been prepared by their part-time bookkeeper, Emma Reid. The toy store has been closed all day as Laura, Christine and the staff have spent all morning conducting the annual stocktake counting stock on hand. Emma is unable to attend the end-of-year meeting but has provided you with the MYOB data file. She asks that if you make any adjustments, you do so directly into the MYOB data file and date any adjustments 30 June 2015. Emma has advised you that she has entered all of the company's transactions for the 2015 financial year (unless otherwise indicated). She has reconciled the company's bank account and has reconciled the GST payable and GST receivable accounts in the Balance Sheet. Please note that the MYOB data file that has been presented to you is not a \"real\" client MYOB data file. All that was done was to enter journal entries so as to arrive at closing balances at 30 June 2015. Hence, please do not analyse the journal entries already existing in this file. In your meeting, Laura and Christine have made you aware of the following information: 1. As at 30 June 2015, Toy Zone Pty Ltd had received lay-by payments from customers totalling $1,440 (GST-exclusive) in relation to certain toys. As at 30 June 2015, these toys remained in the closing stock of Toy Zone Pty Ltd. Laura recorded the following journal entry in MYOB: DATE 30 June PARTICULARS Cash at bank Toy sales POST REF 1-1010 DEBIT CREDIT 1,440 4-1000 (Cash received from customers in relation to the lay-by of toys to 30 June 2015) The lay-bys are refundable, meaning that if the buyer does not pay the full amount owing under the lay-by transaction, Toy Zone Pty Ltd will refund the deposits paid to the customer. Do not make any adjustment to COGS or inventory. Ignore any GST consequences. 1,440