Accounting with sales journal and purchases journal Non-GST version Toby’s Traders Ltd uses sales and purchases journals in its accounting system. The following transactions occurred during April 2025.

Required

(a) Complete the requirements below, assuming that the business is not registered for the GST.
i. Establish all necessary general ledger accounts, accounts receivable subsidiary ledger accounts, and accounts payable subsidiary ledger accounts. Use the following account numbers: Accounts Receivable, 1200; Accounts Payable, 2200; Sales, 4100; Purchases 5100.
ii. Enter the transactions for April in the appropriate special journals.
iii. Post the data from the journals to the general ledger and subsidiary accounts.
iv. Prepare a schedule of the accounts receivable subsidiary ledger and the accounts payable subsidiary ledger as at 30 April to prove that their totals are equal to the balances of the control accounts.

Transcribed Image Text:

April 5 8 Purchased merchandise on account from Smythe Ltd, invoice 354, $1500, terms 2/10, n/30. Purchased merchandise on account from Ellis Ltd, invoice 376, $780, terms 2/10, n/30. 10 16 Sold merchandise on account to B. Morran, invoice 345, $2280. Sold merchandise on account to Bryde Ltd, invoice 346, $2640. 19 26 Purchased merchandise on account from R. Rober, invoice 828, $630, terms 2/10, n/30. Sold merchandise on account to G. Green, invoice 347, $1840. 29 Sold merchandise on account to Bryde Ltd, invoice 348, $1200.