[grace12345]

I need to put this into Journals. It is really important I get it right because although it was homework, I have been away on sports trip so do not have the answers. I really need the answers to check on what I have done wrong as the test is tomorrow. Thank you so much for your help

Argos Model Supplies had the following debtors and account balances on 1 March 2011.
Debtor Balance Dr/Cr Time overdue

P Short 9,630 Dr 2/3 4 months
1/3 2 months

J Rowles 3,450 Dr 1 month

G Cohen 2,300 Dr 4 months

G Best 16,300 Dr ½ 2 months
½ current

H Puna 14,780 Dr ½ 3 months
½ current

D Edwards 1,225 Dr Current

Accounts receivable control balance 47,685 Dr

Other accounts

Sales 97,000 Cr

Cost of goods sold 53,500 Dr


The following information and transactions relate to March 2011.

Kitset models cost $40 excluding GST.

Jack sells each kitset model for $95 excluding GST.


Mar 06 Sold 6 models to D Edwards on credit, invoice 500.

Mar 07 D Edwards paid by direct credit $375, receipt 105.

Mar 07 Sold 24 models to H Puna on credit, invoice 501.

Mar 12 Sold 10 models to J Rowles on credit, invoice 502.

Mar 14 J Rowles returns 2 kitset models, credit note 800.

Mar 17 Sold 12 models to D Edwards on credit, invoice 503.
Charged D Edwards freight on the above order $46 including GST.

Mar 20 D Edwards returns 2 kitset models, credit note 801.
H Puna orders 40 models on credit but asks for a 10% discount, which Jack agrees to, invoice 504.

Mar 21 J Rowles paid by direct credit the full amount owing on 1 March 2011, receipt 106.

Mar 21 Sold 16 models to J Rowles on credit, invoice 505.

Mar 23 Sold 14 models to G Best on credit, invoice 506.

Mar 28 After receiving notification that both P Short and G Cohen have filed for bankruptcy, Jack decided to write off the full amount of their debt.

Mar 28 D Edwards phoned us to query his account. On investigation it is found that he has been charged for G Best’s invoice dated 28 February 2011. The amount involved is $225 including GST. G Best has not yet been charged for this invoice.

Mar 31 Jack has decided to charge G Best a $30 administration fee due to her overdue balance.

[smoothy]

Maybe you should have done your homework BEFORE going on the trip.

[pready]

The transactions in March are simple journal entries and based on what you have posted the other information posted before the March information is not needed for your journal entries.