From the following transactions you are required to:

a enter the appropriate journal abbreviation next to each transaction below and prepare all relevant journals (or prepare the general journal), and b post to a structured general ledger and balance the accounts, and c prepare a trial balance.

C Holmes’ balances as at 1 July 2022 were: $35 000 bank; accounts receivable control $2222 (A McGregor $1496, D Falconer $726); inventory $12 000; GST receivable $360; premises $30 000, motor vehicle $8000; office furniture and equipment $10 500; GST payable $1560; loan from West Bank $35 000; capital $ ……

Transactions for July were:

3 Remitted funds to Telstra $737 ($670 + $67 GST) for new connection and rental fee.

6 Sold stock for cash $1848 ($1680 + $168 GST) at a cost of $714.

9 Received tax invoice $187 ($170 + $17 GST) from Wauchope Stationery for various stationery items.

9 Tax invoiced G Sherborne for goods $1463 ($1330 + $133 GST), costing $565.

9 Tax invoice for $5093 ($4630 + $463 GST) received from Kanon Copier for new photocopier, allocated as office furniture and equipment.

10 Photocopier paper received from Wauchope Stationery $143 ($130 + $13 GST).

12 Purchased stock from G Williams $330 ($300 + $30 GST).

13 Received remittance from D Falconer in full settlement of account.

15 Direct deposit received for $2838 ($2580 + $258 GST) from P Crowley for goods sold today, at a cost of $1097.

15 Received $500 from A McGregor in part payment of account owing from last month.

15 Remitted wages $2850.

17 Tax invoice sent to G Sherborne for goods $2904 ($2640 + $264 GST), at a cost of $1122.

17 Remitted funds to Australian Taxation Office (ATO) the GST for the June quarter $1200 (GST payable

$1560 – GST receivable $360).

20 Credit sale to E Gunning for goods $1793 ($1630 + $163 GST), which cost $693.

22 Electronically transferred $495 ($450 + $45 GST) to Marilyn and Rose, insurance brokers.

23 Received $750 from A McGregor following visit to customer regarding concerns over slow payment.

28 Received $1463 as a direct deposit from G Sherborne being part payment of this month’s transactions.

28 E Gunning remitted funds in full for transaction on 20th, less $44 settlement discount.

29 Transferred funds to Kanon Copier $5093 for transaction on 9 July.

29 Remitted $2850 to pay for wages.