Question: Practice question Adriel Ltd is registered for the GST. Special journals are used in its accounting systems. The following transactions - unless stated otherwise are

Practice question Adriel Ltd is registered for the GST. Special journals are used in its accounting systems. The following transactions - unless stated otherwise are GST exclusive - occurred during April, 2024. The credit term for all sales transactions is 1/10, n30. April 4 Purchased silver watches inventory on account from Queen Arts Ltd, for $1,800, terms 2/10, n30. 8 Sold inventory on account to Max Watch Ltd for $2,000 10 Purchased watch inventory on account from Spy Watch Ltd, for $1,260, terms 2/10, n30. 12 Received $330 (GST inclusive) credit note from Queen Arts for silver watches returned. 13 Sold inventory on account to Bay Watch Ltd for $3,420. 13 Paid the amount owed to Queen Arts Ltd. 15 Max Watch Ltd paid in full, the goods sold on 8 June. Required Journalise the transactions above in the relevant special journals. Ignore narrations in the General Journal. Total the special journals

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