8. C. Walton sold inventory on 1 August to M. Jones for $990 (including $90 GST). On 20 August, Jones paid Walton in full settlement. On 31 August, the bank advised the cheque from Jones had been dishonoured. Required: a. Record Jones's receipt of the cheque, and its dishonour, in the General Journal. General Journal of C Walton Date Particulars Debit Credit b. Show Jones's account in the ledger to 31 August. Accounts Receivable – M Jones Debit Date Details Folio Credit Balance

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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C8 Please help me answer this one. Use table in answering this. Type only the answers, do not handwritten. Thank you!
8. C. Walton sold inventory on 1 August to M. Jones for $990 (including $90 GST). On 20 August, Jones paid
Walton in full settlement. On 31 August, the bank advised the cheque from Jones had been dishonoured.
Required:
a. Record Jones's receipt of the cheque, and its dishonour, in the General Journal.
General Journal of C Walton
Date
Particulars
Debit
Credit
b. Show Jones's account in the ledger to 31 August.
Accounts Receivable – M Jones
Date
Details
Folio
Debit
Credit
Balance
Transcribed Image Text:8. C. Walton sold inventory on 1 August to M. Jones for $990 (including $90 GST). On 20 August, Jones paid Walton in full settlement. On 31 August, the bank advised the cheque from Jones had been dishonoured. Required: a. Record Jones's receipt of the cheque, and its dishonour, in the General Journal. General Journal of C Walton Date Particulars Debit Credit b. Show Jones's account in the ledger to 31 August. Accounts Receivable – M Jones Date Details Folio Debit Credit Balance
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