The following were among transactions of Raven Industries Ltd during the financial years ending 30 June 2019 and 30 June 2020.

Required

Record in general journal form all the above transactions, including any end‐of‐period adjustments required at 30 June 2019.

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2019 March 1 May June 30 1 July 31 Raven Industries Ltd discounted its own 90-day bill of exchange made out to the International Bank. The face value of the bill was $360 000 and the bill was discounted at 10% p.a. Paid the International Bank the amount due on the bill. Raven Industries Ltd discounted a further 60-day bill, made out to Gold Bank for $150 000 at a discount rate of 8% p.a. Raven Industries Ltd honoured its bill drawn on Gold Bank.