Everest Sports owned by Dean Jones sells sports equipment to schools and sporting clubs in Victoria. The following balances were reported in the Balance Sheet as at 30 June 2020.
|Account Name||Balance ($)|
|Cash at bank||19 700|
|Accounts receivable||1 400|
|Capital – Tim Lane||20 500|
Transactions for July 2020 were as follows:
|July 2||Received $1400 from accounts receivable|
|3||Paid $500 of accounts payable|
|4||Paid rent for July $700|
|5||Sent invoice to customer $5600|
|7||Purchased office equipment for cash $2000|
|9||Recorded cash sales $800|
|10||Recorded credit sales $1500|
|14||Purchased office supplies for cash $330|
|23||Recorded cash sales $2000|
|31||Cash drawing by Dean Jones $800|
Prepare worksheet entries for the business transactions for the month ended 31 July 2020.
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