Your company uses special journals and an average cost perpetual inventory system.

Enter the following transactions into the relevant journal.

Each box must be completed - if there is no value then enter a zero.

All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers.

Date	Transaction
15/06/16	Received a total of $22,000 cash for the sale of inventory
21/06/16	Nobel Ltd settled their account in full. The only outstanding invoice was one dated 01/06/16 for $35,200 with terms 3/10 n30.
25/06/16	Paid Otis Inc the balance of their account, The only outstanding invoice was one dated 15/06/16 for $55,000 with terms 2/15 n30.
Drift & Co has a gross profit margin of 50%.

Cash Receipts Journal

		Debit			Credit
Date	Account Credited	Cash At Bank	Sales Discounts			Sales Revenue		Dr COGS
			GST	Net	AR	GST	Net	Cr Inventory
15/06/16		Answer	Answer	Answer	Answer	Answer	Answer	Answer
21/06/16	Answer	Answer	Answer	Answer	Answer	Answer	Answer	Answer

Cash Payments Journal

		Debit			Credit
Date	Account Debited	Other Accounts		Accounts Payable	Purchase Discounts		Cash
		GST	Net		GST	Net
25/06/16	Answer	Answer	Answer	Answer	Answer	Answer	Answer