Refer to the information in exercise 6.6 and assume now that both businesses are registered for GST.

Required

Record the transactions in the general journal of 

1. Watsonia Stores and 

2. Viewbank Market.

Data from exercise 6.6:

The following are selected transactions of Watsonia Stores:

July

12 19 21

Sold goods on account to Viewbank Market for $1200, terms 2/10, n/30. The cost of the goods sold was $800. Forwarded a credit note for $90 to Viewbank Market covering part of the goods sold on 12 July, which cost $60, that were returned by View bank Market as inappropriate. The goods returned were not defective. Received from Viewbank Market a cheque in full settlement of the above transactions.