For the accounts of her business Rebecca Goumas uses sales, purchases, cash receipts, cash payments and general
Question:
For the accounts of her business Rebecca Goumas uses sales, purchases, cash receipts, cash payments and general journals along with subsidiary ledgers for accounts receivable and accounts payable. The business use the perpetual inventory system. The post‐closing trial balance as at 31 March 2026 and the subsidiary ledger schedules follow. Ignore GST.
Required
(a) Enter the transactions in the appropriate journals.
(b) Make all necessary postings for the month to both the general and subsidiary ledgers.
(c) Prepare schedules of accounts receivable and accounts payable as at 30 April 2026.
(d) Prepare the trial balance as at 30 April 2026.
Step by Step Answer:
Accounting
ISBN: 9780730382737
11th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie