INTERMAWEB Computer (Saad Ur Rehman) Sales & Receivables Journal

This assignment presents a Sales & Receivables Journal for INTERMAWEB Computer for the month of January 2019. The journal details various sales transactions, including the dates of sales, customer names (Handys Electronics, Jerry Technology, and Radio Hut), and corresponding account entries. Each transaction includes debits and credits for accounts receivable, sales revenue, GST collected, cost of sales, and inventory. The journal provides a comprehensive overview of the financial activities during the specified period, including the debit and credit entries for each sale, and the final totals for debit and credit, demonstrating the accounting equation's balance. The journal entries showcase the flow of financial information from sales to the impact on assets, liabilities, and equity. The document provides a detailed breakdown of sales, cost of goods sold, and the resulting impact on the company's financial position. Students can utilize this assignment to understand the accounting cycle and the importance of maintaining accurate financial records.

INTERMAWEB COMPUTER(SAAD UR REHMAN)
825 FLACK LANE CANBERRA ,ACT,2600, AUSTRALIA
Sales & Receivables Journal
1/1/2019 To 1/31/2019
7/18/2019
10:08:22 PM
Page 1
ID# Acct# Account Name Debit Credit Job No.
SJ 1/5/2019 Sale; HANDYS ELECTRONICS
00003076 1-1200 ACCOUNTS RECEIVABLE $8,700.00
00003076 1-1200 ACCOUNTS RECEIVABLE $870.00
00003076 4-1100 SALES REVENUE $8,700.00
00003076 2-1310 GST Collected $870.00
00003076 5-1100 COST OF SALES $5,760.00
00003076 1-1300 Inventory $2,790.00
00003076 1-1300 Inventory $2,970.00
SJ 1/8/2019 Sale; HANDYS ELECTRONICS
00003077 1-1200 ACCOUNTS RECEIVABLE $12,800.00
00003077 1-1200 ACCOUNTS RECEIVABLE $1,280.00
00003077 4-1100 SALES REVENUE $12,800.00
00003077 2-1310 GST Collected $1,280.00
00003077 5-1100 COST OF SALES $8,480.00
00003077 1-1300 Inventory $3,720.00
00003077 1-1300 Inventory $4,760.00
SJ 1/18/2019 Sale; JERRY TECHNOLOGY
00003079 1-1200 ACCOUNTS RECEIVABLE $33,900.00
00003079 1-1200 ACCOUNTS RECEIVABLE $3,390.00
00003079 4-1100 SALES REVENUE $33,900.00
00003079 2-1310 GST Collected $3,390.00
00003079 5-1100 COST OF SALES $22,390.00
00003079 1-1300 Inventory $9,520.00
00003079 1-1300 Inventory $12,870.00
SJ 1/24/2019 Sale; JERRY TECHNOLOGY
00003080 1-1200 ACCOUNTS RECEIVABLE $7,200.00
00003080 1-1200 ACCOUNTS RECEIVABLE $720.00
00003080 4-1100 SALES REVENUE $7,200.00
00003080 2-1310 GST Collected $720.00
00003080 5-1100 COST OF SALES $4,760.00
00003080 1-1300 Inventory $4,760.00
SJ 1/25/2019 Sale; RADIO HUT
00003078 1-1200 ACCOUNTS RECEIVABLE $48,300.00
00003078 1-1200 ACCOUNTS RECEIVABLE $4,830.00
00003078 4-1100 SALES REVENUE $48,300.00
00003078 2-1310 GST Collected $4,830.00
00003078 5-1100 COST OF SALES $32,080.00
00003078 1-1300 Inventory $6,510.00
00003078 1-1300 Inventory $22,600.00
00003078 1-1300 Inventory $2,970.00
Grand Total: $195,460.00 $195,460.00