HI-FI WAY - Sales & Receivables Journal (January 2019) Analysis

This assignment presents the Sales & Receivables Journal for HI-FI WAY for the month of January 2019. The journal details various sales transactions, including the dates, account names, and corresponding debit and credit entries. Transactions include sales to HYPERTONICS, JERRY TECHNOLOGY, and PIKEA. Accounts Receivable, Sales Revenue, GST Collected, Cost of Sales, and Inventory are all included. The journal provides a comprehensive overview of the financial activities during the period, including the total debits and credits, offering insights into the company's sales and revenue cycle. The journal also shows calculations for GST.

HI-FI WAY (MUHAMMAD AZAM JAVED)
581 BLACK BOULEVARD BRISBANE, QLD,4000 AUSTRALIA
Sales & Receivables Journal
1/1/2019 To 1/31/2019
10/23/2019
3:16:41 AM
Page 1
ID# Acct# Account Name Debit Credit Job No.
SJ 1/5/2019 Sale; HYPERTONICS
00003491 1-1200 ACCOUNTS RECEIVABLE $14,000.00
00003491 1-1200 ACCOUNTS RECEIVABLE $1,400.00
00003491 4-1100 SALES REVENUE $14,000.00
00003491 2-1310 GST Collected $1,400.00
00003491 5-1100 COST OF SALES $8,800.00
00003491 1-1300 Inventory $6,040.00
00003491 1-1300 Inventory $2,760.00
SJ 1/9/2019 Sale; HYPERTONICS
00003492 1-1200 ACCOUNTS RECEIVABLE $11,100.00
00003492 1-1200 ACCOUNTS RECEIVABLE $1,110.00
00003492 4-1100 SALES REVENUE $11,100.00
00003492 2-1310 GST Collected $1,110.00
00003492 5-1100 COST OF SALES $6,980.00
00003492 1-1300 Inventory $3,020.00
00003492 1-1300 Inventory $3,960.00
SJ 1/17/2019 Sale; JERRY TECHNOLOGY
00003494 1-1200 ACCOUNTS RECEIVABLE $31,800.00
00003494 1-1200 ACCOUNTS RECEIVABLE $3,180.00
00003494 4-1100 SALES REVENUE $31,800.00
00003494 2-1310 GST Collected $3,180.00
00003494 5-1100 COST OF SALES $19,980.00
00003494 1-1300 Inventory $15,840.00
00003494 1-1300 Inventory $4,140.00
SJ 1/23/2019 Sale; PIKEA
00003493 1-1200 ACCOUNTS RECEIVABLE $41,500.00
00003493 1-1200 ACCOUNTS RECEIVABLE $4,150.00
00003493 4-1100 SALES REVENUE $41,500.00
00003493 2-1310 GST Collected $4,150.00
00003493 5-1100 COST OF SALES $26,050.00
00003493 1-1300 Inventory $6,040.00
00003493 1-1300 Inventory $17,940.00
00003493 1-1300 Inventory $2,070.00
SJ 1/23/2019 Sale; JERRY TECHNOLOGY
00003495 1-1200 ACCOUNTS RECEIVABLE $18,900.00
00003495 1-1200 ACCOUNTS RECEIVABLE $1,890.00
00003495 4-1100 SALES REVENUE $18,900.00
00003495 2-1310 GST Collected $1,890.00
00003495 5-1100 COST OF SALES $11,880.00
00003495 1-1300 Inventory $11,880.00
Grand Total: $202,720.00 $202,720.00