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Enter the following transactions for July in the journals of Poco Presto. A periodic inventory system has been established. Date July 01 03 05 08 09 10 13 14 20 22 25 28 31 Ref Chq 001 Inv 601 Inv 602 Chq 002 Inv 603 C/N 43 Rec 114 Inv R233 Inv 1148 Rec 115 Chq 003 CN 102 Chq 004 Chq 005 Inv 604 Chq 006 Chq 007 Details Paid rent for July $1,430 including GST. Sold goods on credit to Harvey Headbanger $750 plus GST Sold goods on credit to Mary Mead $300 plus GST. Purchased inventory for cash $198 including GST. Sold goods on credit to Betty Bundy $150 plus GST. Mary Mead returned goods $80 plus GST. Received from Harvey Headbanger $420. Purchased goods on credit from Green Point $704 incl GST. Purchased goods on credit from Normie Nock $814 incl GST. Cash sales $1,023 incl GST. Paid wages $950 (No GST). Returned goods to Green Point $110 including GST. Drew cash for own use $100. Bought stationery for cash $165 including GST. Credit sale to Mercury Ltd $420 plus GST. Paid wages $940 (No GST). Paid Green Point the amount owing to date.

Enter the following transactions for July in the journals of Poco Presto. A periodic inventory system has been established. Date July 01 03 05 08 09 10 13 14 20 22 25 28 31 Ref Chq 001 Inv 601 Inv 602 Chq 002 Inv 603 C/N 43 Rec 114 Inv R233 Inv 1148 Rec 115 Chq 003 CN 102 Chq 004 Chq 005 Inv 604 Chq 006 Chq 007 Details Paid rent for July $1,430 including GST. Sold goods on credit to Harvey Headbanger $750 plus GST Sold goods on credit to Mary Mead $300 plus GST. Purchased inventory for cash $198 including GST. Sold goods on credit to Betty Bundy $150 plus GST. Mary Mead returned goods $80 plus GST. Received from Harvey Headbanger $420. Purchased goods on credit from Green Point $704 incl GST. Purchased goods on credit from Normie Nock $814 incl GST. Cash sales $1,023 incl GST. Paid wages $950 (No GST). Returned goods to Green Point $110 including GST. Drew cash for own use $100. Bought stationery for cash $165 including GST. Credit sale to Mercury Ltd $420 plus GST. Paid wages $940 (No GST). Paid Green Point the amount owing to date.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash receipt journal 

Date Date Invoice C/Note # Invoice C/Note # Credit Purchases Journal of Poco Presto Debit Accounts Particulars Particulars Credit Sales Journal of Poco Presto Debits Purchases Date Chq # Particulars Acc # Accounts Rec. GST Paid Accounts Payable Cash Payments Journal of Poco Presto Debit Accounts Sales Credit Accounts Payable Credits P1 Purchases Wages Sundry GST Paid S1 GST Collected CP1 Credit Bank
Transcribed Image Text:Date Date Invoice C/Note # Invoice C/Note # Credit Purchases Journal of Poco Presto Debit Accounts Particulars Particulars Credit Sales Journal of Poco Presto Debits Purchases Date Chq # Particulars Acc # Accounts Rec. GST Paid Accounts Payable Cash Payments Journal of Poco Presto Debit Accounts Sales Credit Accounts Payable Credits P1 Purchases Wages Sundry GST Paid S1 GST Collected CP1 Credit Bank
Enter the following transactions for July in the journals of Poco Presto. A periodic inventory system has been established. Date July 01 03 05 08 09 10 13 14 20 22 25 28 31 Ref Chq 001 Inv 601 Inv 602 Chq 002 Inv 603 C/N 43 Rec 114 Inv R233 Inv 1148 Rec 115 Chq 003 CN 102 Chq 004 Chq 005 Inv 604 Chq 006 Chq 007 Details Paid rent for July $1,430 including GST. Sold goods on credit to Harvey Headbanger $750 plus GST Sold goods on credit to Mary Mead $300 plus GST. Purchased inventory for cash $198 including GST. Sold goods on credit to Betty Bundy $150 plus GST. Mary Mead returned goods $80 plus GST. Received from Harvey Headbanger $420. Purchased goods on credit from Green Point $704 incl GST. Purchased goods on credit from Normie Nock $814 incl GST. Cash sales $1,023 incl GST. Paid wages $950 (No GST). Returned goods to Green Point $110 including GST. Drew cash for own use $100. Bought stationery for cash $165 including GST. Credit sale to Mercury Ltd $420 plus GST. Paid wages $940 (No GST). Paid Green Point the amount owing to date.
Transcribed Image Text:Enter the following transactions for July in the journals of Poco Presto. A periodic inventory system has been established. Date July 01 03 05 08 09 10 13 14 20 22 25 28 31 Ref Chq 001 Inv 601 Inv 602 Chq 002 Inv 603 C/N 43 Rec 114 Inv R233 Inv 1148 Rec 115 Chq 003 CN 102 Chq 004 Chq 005 Inv 604 Chq 006 Chq 007 Details Paid rent for July $1,430 including GST. Sold goods on credit to Harvey Headbanger $750 plus GST Sold goods on credit to Mary Mead $300 plus GST. Purchased inventory for cash $198 including GST. Sold goods on credit to Betty Bundy $150 plus GST. Mary Mead returned goods $80 plus GST. Received from Harvey Headbanger $420. Purchased goods on credit from Green Point $704 incl GST. Purchased goods on credit from Normie Nock $814 incl GST. Cash sales $1,023 incl GST. Paid wages $950 (No GST). Returned goods to Green Point $110 including GST. Drew cash for own use $100. Bought stationery for cash $165 including GST. Credit sale to Mercury Ltd $420 plus GST. Paid wages $940 (No GST). Paid Green Point the amount owing to date.
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