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Tip: the specific answer to this question may not be completely found in the textbook. Use your learning andunderstanding of recording and administering credit purchases to arrive at your answers. Feel free to researchother sources to assist you.Supplier name, ABN and date of invoice are supplied and correctAmount to be paid to the supplier is correct, GST included or excludedAny discounts available for early payment and the expiry date of the discountPayment method/details are included on invoice
Units Covered: FNSACC311, FNSACC312, BSBFIA401The following questions are based on the material in Chapter 9:10.The accountant ofHarvey Importsprovides trading information for the year ending 30 June 2016. As moststock is imported, customs duty is paid on many items of stock. There are also delivery charges incurred.At 30 June 2016, the records of Harvey Imports provide the following details:Purchases ledger balance$32,300Stocktake at 30 June 2016$17,800Customs Duty account balance$1,600Opening inventory$32,000Freight Inwards account balance$1,550Sales account balance$51,800Required:Prepare a Trading Statement for the year ending 30 June 2016 with detail for the COGS$
FNS40217 Module 1.1 Assignment_1811Page33of60
Units Covered: FNSACC311, FNSACC312, BSBFIA401FNS40217 Module 1.1 Assignment_1811Page34of60The following questions are based on the material in Chapter 10:11.ABC Boxesmade the following transactions during the month of August. ABC Boxes use a periodicinventory system.Required:11a.Enter the above transactions into the Credit Sales Journal. Cross-balance using the column totals.Credit Sales Journal of ABC Boxes (August)SJ15DebitsCreditsDateInvoice # /AdjustmentNote #ParticularsAccountReceivableSalesAssetGSTCollectedAug 11679R Small93585085Aug 41680J Large1,2101,100110Aug 91681B Brown1,4301,300130Aug 111682R Small22020020Aug 16CN123B Brown (return)-132-120-12Aug 231683T Little15414014Aug 26CN124J Large (overcharge)-44-40-4Total3,7733,230200343
Units Covered: FNSACC311, FNSACC312, BSBFIA40111b.Refer to the invoices above.ABC Boxes received a payment from B Brown and issued the followingpayment receipt.The funds were banked and the following journal entry was recorded in the Cash Receipts Journal.Dr Bank$1,340.00Cr Debtors$1,340.00Required:Check the invoice for B Brown and the cash receipt given to B Brown.
FNS40217 Module 1.1 Assignment_1811Page35of60
Record the adjustment needed in the Cash Receipts Journal to correct the error?

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