Using the information of Val Orara at the end of April 2022 (shown in figure 6.90) and the transactions for May:

• enter the appropriate journal abbreviation next to each transaction

• prepare the relevant journals for the month of May 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 Received funds from B Dolan $781.
__________ 1 A Jameson direct deposited funds for April invoices less $33 discount.
__________ 1 Electronic transfer to B Mont $176 for last month’s account.
__________ 2 Direct deposit from G Clifton for $550 received in full settlement of April invoices.
__________ 7 Received tax invoice for $297 ($270 + $27 GST) from A Waratah for inventory.
__________13 Photocopy paper (stationery expense) $165 ($150 + $15 GST) received from Mayfield Stationers.
__________15 Sold goods to B Dolan $2156 ($1960 + $196 GST).
__________16 Inventory purchased $187 ($170 + $17 GST) from B Mont.
__________16 Sent tax invoice for $2211 ($2010 + $201 GST) to R Daley for stock delivered.
__________18 A Jameson purchased $2057 ($1870 + $187 GST) of stock.

__________ 19 Adjustment credit note received from B Mont $33 ($30 + $3 GST) for damaged inventory.
__________ 20 Mailed adjustment credit note for $44 ($40 + $4 GST) to A Jameson for overcharge.
__________ 21 Purchased inventory on credit from A Waratah $374 ($340 + $34 GST).
__________ 21 Cash sales $2563 ($2330 + $233 GST).
__________ 25 Tax invoice received for $407 ($370 + $37 GST) from B Mont for inventory.
__________ 25 Tax invoice for 12 months insurance for $363 ($330 + $33 GST) from A Merewether.
__________ 26 Val Orara returned goods to B Mont $55 ($50 + $5 GST).
__________ 28 Tax invoice $1419 ($1290 + $129 GST) mailed to G Clifton for inventory.

Transcribed Image Text:

Trial Balance of Val Orara as at 30 April 2022 Bank Accounts Receivable Control GST Receivable Accounts Payable Control GST Payable Capital Sales Purchases Val Orara Accounts Receivable Listing as at 30 April 2022 G Clifton B Dolan A Jameson 572 781 902 2 255 5443 2 255 478 2 705 10 881 264 1 703 4814 4 100 10 881 Mayfield Stationers B Mont Val Orara Accounts Payable Listing as at 30 April 2022 88 176 264