Zhang Ltd uses sales, purchases, cash receipts, cash payments and a general journal along with subsidiary ledgers for accounts receivable and accounts payable. Zhang Ltd’s financial year ends on 31 December 2019. The post‐closing trial balance as at 30 June 2019 and schedules of balances of the subsidiary ledgers are presented below.

The following transactions occurred in July 2019.

Required

i. Journalise the transactions in the appropriate journals.
ii. Make all necessary postings for the month.
iii. Prepare a trial balance of the general ledger as at 31 July 2019, and reconcile subsidiary ledgers with their control accounts.

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ZHANG LTD Post-closing Trial Balance as at 30 June 2019 1-100 Cash at bank $ 26 680 1-110 Accounts receivable control 1-150 Inventory 15 440 25280 1-170 Office equipment 1-175 2-200 Accumulated depreciation office equipment Accounts payable control 53 000 $ 7800 20 590 3-300 Share capital 3-350 Retained earnings 60 000 32 010 4-400 Sales 4-405 Sales returns 4-410 Discount received 5-500 5-505 Purchases Purchases returns 5-512 Discount allowed 5-530 Rent expense 5-540 Sundry expenses 5-550 Commissions expense $120 400 $120 400