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1-1110Bank$10,5001-1200Accounts Receivable$8,1001-1300Inventory$10,5001-1400Stationery supplies$6501-3110$12,5001-3120$1,4501-3210Motor vehicle (cost)$22,0001-3220$3,5002-1200Accounts Payable$11,5002-1340Net GST Payable$5602-1700Wages payable$2402-2100Loan - Eastern Bank$20,0003-1100Capital - Al Wilson$27,000Total$64,250$64,250Shop Fittings & equipment (cost)Shop Fittings & equipment- accumulated depreciationAccumulated Depreciation of Motor Vehicles
Paid cash for printing expenses to Acorn Press– $594 (GST Inclusive).[chq 201]Paid three month’s rent of $4,620 (GST inclusive) to Prime Real Estate. [chq 203].Paid for two months (March & April) advertising in the Surfing Times – $286 (GST inclusive) [chq 204Credit sale to Airey’s Surf Club : inventory sold: 2 boogie boards, 2 surfboards, 3 surfing manuals (InReceived payment of $4,000 from Torquay Surf ShopReceived $1,540 (GST inclusive) for surfing lessons.Paid Seahorse Publishers for February account. [chq 205]Paid cash to GMJ Autos for vehicle expenses- $297 – (Including GST) [chq 206]Purchased inventory: 12 surfboards and 16 boogie boards. (P.O. 326, 327)