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 |
| Accounts payable | 600 |
| 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 |
Required:
Prepare worksheet entries for the business transactions for the month ended 31 July 2020.
Click on Buy Solution and make payment. All prices shown above are in USD. Payment supported in all currencies. Price shown above includes the solution of all questions mentioned on this page. Please note that our prices are fixed (do not bargain).
After making payment, solution is available instantly.Solution is available either in Word or Excel format unless otherwise specified.
If your question is slightly different from the above question, please contact us at info@myassignmentguru.com with your version of question.