[Winy78]

Subsidiary Ledger balances at 31 October 2010 were:
Accounts Receivable:
Customer: T/Tremble
Date of sale: 18/10/10
Terms:2/10,n/30
Amount: $2860


Account Payable:
Customer: M.Merlow
Date of purchase: 10/10/10
Terms:n/30
Amount: $2650

GST outlays $2000
GST Collections $3500


Transaction for the month November 2010 were:
NOV 5 Issued cheque no.402 for $1650 to M.Merlow on account, and issued a 60-day 10% bill payable for the balance due on the purchase of 10 October.
NOV 11 Received cheque for $1430 from T.Tremble in part payment of the sale made on 18 October, together with a bill receivable for the balance due.
NOV 19 Forwarded cheque no.406 to ATO to cover GST owing from previous month, $1500.

Required:
Record the November transactions ( round amounts to the nearest dollar) in appropriate special journals and the general journal.

Is this right if my answered:
NOV 5 Account payable(Dr) $1650 to Cash Payment Journal. Cash at bank(Cr) $1650
NOV 5 Account Payable(Dr) $1000 to General Journal. Bill Payable (cr) $1000 to General Journal.
NOV 11 Account Receivable(CR) $1430 to Cash Receipts Journal. Cash at bank (DR)1401 to Cash Receipts Journal. Discount Allowed (DR)29 to Cash Receipts Journal.
NOV 11 Bill Receivable(DR) $1430 to General Journal and Accounts Receivable(CR) to General Journal.
Have no Idea for NOV 19 any one can help me? Thank you

[morgaine300]

Is this right if my answered:
NOV 5 Account payable(Dr) $1650 to Cash Payment Journal. Cash at bank(Cr) $1650
NOV 5 Account Payable(Dr) $1000 to General Journal. Bill Payable (cr) $1000 to General Journal.

Both correct.

NOV 11 Account Receivable(CR) $1430 to Cash Receipts Journal. Cash at bank (DR)1401 to Cash Receipts Journal. Discount Allowed (DR)29 to Cash Receipts Journal.
NOV 11 Bill Receivable(DR) $1430 to General Journal and Accounts Receivable(CR) to General Journal.

Real close, but there's no discount because they didn't pay by the 28th of October.

Have no Idea for NOV 19 any one can help me? Thank you

Think about the concept behind it. You're paying something first of all. What account do you pay out of? Same one you paid out of for Nov. 5. Now, I don't know about the other account because I'm in the U.S. and don't know how your taxes work. It says from the prior month -- I would assume that means the entries for it were taken care of during the prior month and since not paid yet, would end up in some type of liability account, whatever you might call it. In which case, you are reducing that liability by paying it, again just like you do on Nov. 5. It's the same type of entry.