Question: On 23 August 2021, Jackson Engineering Ltd signed a contract to supply a new machine to Gummy Bears Ltd for $73,600 (including GST). This includes

On 23 August 2021, Jackson Engineering Ltd signed a contract to supply a new machine to Gummy Bears Ltd for $73,600 (including GST). This includes $58,000 for the machine (excluding GST), $2,500 for delivering and installing the machine (excluding GST) and $3,500 for servicing the machine in 6 months (excluding GST).

Jackson Engineering Ltd delivers and installs the machine on 2 September 2021. An invoice for $73,600 (including GST) is also given to Gummy Bears Ltd on this day.

Gummy Bears Ltd transfers $73,600 to Jackson Engineering Ltd on 21 September 2021 via internet banking.

Jackson Engineering Ltd services the machine on 2 March 2022.

Required:

Prepare journal entries for invoicing of the contract on 2 September 2021 and the servicing of the machine on 2 March 2022.

Use the answer template below

Jackson Engineering Ltds General Journal:

Date	Account Names	Debit	Credit
2/9/2021



	(To record the invoice for contract with Gummy Bears Ltd)
2/3/2022

	(To record servicing of the machine supplied to Gummy Bears Ltd)

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