QUESTION 2: Posting to the ledger and balancing the ledger (10 marks)

The following journals have been prepared by Sandy Smith for "Aussie Eatery" for transactions that took place during May 2021. Sandy Smith has not posted these journals to the different General Ledger Accounts yet and have asked you to assist her with this task.

Required:

Post the General Journals recorded below to the General Ledger Accounts provided on the following pages. Remember to balance each ledger account to determine the closing balance (refer to hints below).

Date	Details	Debit ($)	Credit ($)
May 3	Cash at Bank	$3,200
	Accounts Receivable		$3,200
	(Received payment from clients owing money to "Aussie Eatery").
May 5	Computer Equipment	$5,800
	Cash at Bank		$5,800
	(Bought new computer equipment from Computers Galore).
May 9	Cash at Bank	$25,000
	Capital - Sandy Smith		$25,000
	(Sandy Smith contributed an additional amount of $25,000 from her personal savings to the business).
May 11	Cash at Bank	$4,500
	Accounts Receivable	$5,500
	Service Fees Revenue		$10,000
	(Record revenue for the first half of May 2021, partly in cash, partly Accounts Receivable)
May 16	Loan Payable	$1,500
	Cash at Bank		$1,500
	(Repaid $1,500 of the amount owing to STR Bank)
May 30	Repairs and maintenance expense	$1,800
	Cash at Bank		$1,800
	(Paid handyman for repairs done to kitchen equipment)

Hints to assist in completing the ledgers in the Student Submission file:

• Do not delete the opening balances given.
• The ledgers are formatted using tables therefore it is best to navigate through the ledgers using the 'tab' function.
• When using tables, it is often easier to click on the "" function so you are able to see the formatting.
• It is acceptable to shorten account names i.e. Cash at Bank becomes CAB

Cash at Bank (CAB)

May 1	Balance	$32,000

Accounts Receivable (A/R)

May 1	Balance	$7,400

Computer Equipment

Accounts Payable

			May 1	Balance	$12,000

Loan Payable

			May 1	Balance	$10,000

Capital - Sandy Smith

			May 1	Balance	$80,000

Service Fees Revenue

			May 1	Balance	$48,000

Repairs and maintenance expense

May 1	Balance	$4,100