6. Aspire Services Ltd made the following transactions during July 2018. 2018 Ju

Question

6. Aspire Services Ltd made the following transactions during July 2018. 2018 July 12 July 15 July 26 July 30 July 31 Credit sales GST inclusive $4840. Cash sales GST inclusive $1320. Purchased supplies on account GST inclusive $1760 Credit sales GST inclusive $5060 Paid GST due to Australian Tax Office. Required Use the general journal to record the above transactions. 6. Aspire Services Ltd made the following transactions during July 2018. 2018 July 12 July 15 July 26 July 30 July 31 Credit sales GST inclusive $4840. Cash sales GST inclusive $1320. Purchased supplies on account GST inclusive $1760 Credit sales GST inclusive $5060 Paid GST due to Australian Tax Office. Required Use the general journal to record the above transactions. 6. Aspire Services Ltd made the following transactions during July 2018. 2018 July 12 July 15 July 26 July 30 July 31 Credit sales GST inclusive $4840. Cash sales GST inclusive $1320. Purchased supplies on account GST inclusive $1760 Credit sales GST inclusive $5060 Paid GST due to Australian Tax Office. Required Use the general journal to record the above transactions.

Explanation / Answer

July 12 Accounts Receivable A/C dr 4840

To Sales 4400(4840/1.10)

To GST 440

July 15 Cash A/C dr 1320

To Sales 1200(1320/1.10)

To GST 120

July 26 Inventories A/C dr 1600(1760/1.10)

GST dr 160

To Accounts payable 1760

July 30 Accounts Receivable dr 5060

To Sales 4600

To GST 460

july 31 GST A/C dr 860

To Cash 860

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