Problem $7\mathrm{.}21$

Accounting for transactions with several journals

Non$-$GST version

Elliott started business on $1$ July $2025.$ The accounting system includes a sales journal, a purchases journal, a cash receipts journal, a cash payments journal and a general journal. The chart of accounts shows the following titles.

$\backslash$table$[[100,$Cash at Bank,$410,$Sales Returns and Allowances$],[110,$Accounts Receivable Control,$420,$Discount Received$],[115,$Prepaid Insurance,$500,$Purchases$],[150,$Office Equipment,$503,$Purchases Returns$],[201,$Accounts Payable Control,$510,$Discount Allowed$],[210,$Loan Payable,$550,$Rent Expense$],[300,$A$.$ Elliott, Capital,$560,$Insurance Expense$],[400,$Sales,$570,$Sundry Expenses$]]$

During June, the transactions were as follows $($ignore GST$).$

$\backslash$table$[[$June$,1.,$A$.$ Elliott deposited $$50000$ capital in the business bank account.$],[3.,$Paid rent for June, $$8800,$ by interbank transfer.$],[4,$Borrowed $$30000$ from the Regional Australia Bank.$],[5,\backslash$table$[[$Purchased inventory on credit from Hendry Ltd$,$ $$11300,$ invoice $743,$ terms$],[q,\frac{2}{10},\frac{n}{30}$