Question 2 (Note: Although this question is based on the Skate 'n'Surf business the accounts, amounts and transactions involved may differ between questions. Please read each question separately. Totals and balance 5/05 and 13/05 for ledger: accounts are not required for this question.) Skate 'n' Surf began operations on 1 June, buying and selling surfboards, skateboards, wetsuits and the protective gear for skateboarding. The structure of the business is that of a sole trader. The business employed a sales assistant during the month who is to be paid fortnightly. Tax is deducted from the employee's wages (PAYG withholding tax) and remitted to the Australian Taxation Office (ATO) on a quarterly basis. The business has not registered with the ATO for the goods and services tax (GST) and has elected to use the accrual basis of accounting. Accounting records The business records all transactions in the general journal. These transactions are then posted to the appropriate account(s) in the general ledger. The accounts receivable and accounts payable subsidiary iedgers are provided for information only, you are not required to post to these iedgers. Chart of accounts The chart of accounts for Skate 'n' Surf contains the accounts and account numbers below