S Wong uses the perpetual inventory system in her accounts. From the source documents of S Wong (see figure 5.52) for November and December 2022, for each month prepare the cash payments journal and cash receipts journal (or general journal), post to the general ledger and prepare a trial balance as at the end of each month. The cost of the inventory sold as cash sales is a constant 60% of the sales value, not the amount received.

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6 November 2022 Remittance Received 106 To: W Susan 7 November 2022 For: Purchase of goods Cash Cash sale GST a 10% 549 Remittance Payment 260.00 26.00 $286.00 GST @ 10% 15 November 2022 To: Wages For: November payroll GST @ 10% 2500.00 GST @ 10% 0.00 GST a 10% $2 500.00 183 Remittance Payment Remittance Received 504 28 November 2022 Cash Sale of inventory $825.00 1600.00 160.00 GST @ 10% $1760.00 750.00 75.00 GST @ 10% 15 November 2022 To: Riverina Electricity For: Electricity for month 500.00 50.00 GST a 10% $550.00 562 Remittance Payment Remittance Received 874 30 November 2022 Cash Sale of inventory Remittance Received 669 14 November 2022 O Soner Cash sale $957.00 27 November 2022 760.00 76.00 GST a 10% $836.00 To: Simpson Petroleum For: Petrol and oil October 870.00 87.00 GST @ 10% 147 Remittance Payment Remittance Received 451 14 November 2022 M Sandra Rent received Remittance Received 832 1 December 2022 KCR Real Estate Rent received 170.00 17.00 $187.00 GST @ 10% 820.00 82.00 $902.00 Remittance Received 646 28 November 2022 Spiegel Investments Interest received 197.00 0.00 $197.00 2 December 2022 To: Telstra For: Telephone for month 730.00 GST a 10% 73.00 $803.00 500.00 50.00 $550.00 213 Remittance Payment