Using the information of Glen Reagh at the end of March 2022 (shown in figure 6.91) and the transactions for April:

• enter the appropriate journal abbreviation next to each transaction

• prepare the relevant journals for the month of April 2022

• enter the opening balances in the appropriate ledgers

• post the journals to the general ledger in T account format, and the accounts receivable and accounts payable ledgers in columnar account format

• prepare a trial balance from the general ledger, and

• prepare accounts receivable and payable listings that balance with the respective accounts in the general ledger.

__________ 1 Sold stock to S Smith $2244 ($2040 + $204 GST).
__________ 1 Direct deposit received for March invoices less $22 discount from S Smith.
__________ 1 Purchased stock from G Lendale $198 ($180 + $18 GST).
__________ 1 Transferred funds for $154 to N Castle in full settlement of March account.
__________ 2 Remitted funds to K Kurri to pay March tax invoices $286.
__________ 2 G Lendale’s March account was paid less $22 discount.
__________ 10 N Lambton forwarded $2893 ($2630 + $263 GST) tax invoice for a new photocopier.
__________ 10 Sold goods on credit to F White for $2794 ($2540 + $254 GST).

__________ 15 Glen Reagh sold inventory on credit $1903 ($1730 + $173 GST) to C Noble.
__________ 15 Purchased goods on credit from G Lendale $231 ($210 + $21 GST).
__________ 17 Sold goods following direct deposit from F Williams for $1133 ($1030 + $103 GST).
__________ 19 Tax invoice from N Castle $286 ($260 + $26 GST) for goods.
__________ 20 Bought goods from K Kurri $385 ($350 + $35 GST).
__________ 21 S Smith was sold goods on credit for $2277 ($2070 + $207 GST).
__________ 25 E Cooper purchased goods $1628 ($1480 + $148 GST) and paid by debit card.
__________ 28 Forwarded adjustment credit note to S Smith for damaged goods $33 ($30 + $3 GST).
__________ 29 Paid Charlestown BP $396 ($360 + $36 GST) for this month’s petrol.
__________ 30 Received funds from F White in full settlement of account less $77 discount.

Transcribed Image Text:

Trial Balance of Glen Reagh as at 31 March 2022 C Noble S Smith Bank Accounts Receivable Control GST Receivable Accounts Payable Control GST Payable Capital Sales Purchases Glen Reagh Accounts Receivable Listing as at 31 March 2022 858 1 606 2464 1 763 2464 100 1913 6240 704 376 1712 3448 N Castle K Kurri G Lendale 6 240 Glen Reagh Accounts Payable Listing as at 31 March 2022 165 286 253 704