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Note: All amounts are GST-inclusive unless otherwise stated. Credit sales are made on credit terms of 2/10, n30. Date Details 1. July 1 Paid insurance for 6 months in advance - $13,200 chq 1052 2. July 1 Paid Clay Products Pty Ltd in full for June inventory purchase taking advantage of the terms 3/10, n30 chq 1053 3. July 3 Sold 20 Fishes Friend waterfalls for cash - $4,400 4. July 3 Purchased inventory on credit from Ceramickit Pty Ltd - $9,900 Golden Rivers 60 waterfalls 5. July 4 Received amount owed by Moderndeco Co for June invoices less applicable discounts. 6. July 5 Purchased office supplies for $1,100 chq 1054 (use a/c 150 Office Supplies) 7. July 5 Invoiced Newhome Pty Ltd for designs completed, Inv 4562 for $19,030 8. July 5 Received partial payment from W. Light for June - $2,400 9. July 8 Sold 50 Golden Rivers waterfalls to Fallsforall Co on credit for $16,500 Inv 4563 10. July 8 Purchased inventory on credit from MyGravel Co - $10,362 (incl GST) - Triplelayer: 60 waterfalls at $108 each(excl GST) Fishes Friend: 35 waterfalls at $84 each(excl GST) 11. July 9 Received amount owed by Fallsforall Co for June invoices less applicable discount. 12. July 10 Received payment from Newhome Pty Ltd for June balance - $25,258. They took advantage of the available discount. 13. July 10 Paid net fortnightly wages of $3,076 chq 1055 ($2,460 relates to July wages; $616 relates to the wages accrued for June) PAYG tax deducted from these wages amounted to $1962. 14. July 12 Paid Fairfax Ltd for advertising for July $550 chq 1056 15. July 15 Purchased 3D Printer for $5,522 from Printworld chq 1057. The printer has a life of 3 years with $52 residual value.

required journal entries

Make journal entries on the basis of following information As at 1 July W. Light 6,400 Fallsforall Co 14,442 Moderndeco Co 11,854 Newhome Pty Ltd 25,258 $57,954 Accounts Payable Subsidiary Ledger As at 1 July Clay Products Pty Ltd 5,920 Ceramickits Pty Ltd 5,250 MyGravel Co 3,750 $14,920 Inventory on Hand As at 1 July Units on Hand Cost per Unit Total Fishes Friend 52 80 4,160 Golden Rivers 38 140 5,320 Triplelayer 26 102 2,652 $12,132

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