Question

I am currently completing an assignment for an introduction for accounting.

I have been asked to complete a general journal for the following transactions:

August 2           Sahra paid $30 from the business bank account for dinner at ‘Waves’ a beachside café.

August 3           Deep Sea Cleaning Co cleaned the shop and workshop and left an invoice for $195 on the counter.

August 6           A new range of SPF fabric was purchased from ‘World Fabrics Ltd’ for $6,200. A part-payment of $200 was paid in cash whilst the remaining amount was on credit.  

August 12         Sahra sold 27 long sleeve Rashies for $62 each to ‘The Tornadoes’, a local beach volleyball club on credit.  The terms of the sale require full payment is made within 30 days.

August 20         The business borrowed $4,300 from WAV Bank to purchase and install new lighting for the workshop. $2,300 of this amount paid for the light fittings with the remaining balance to be paid to the electrician for installing the lighting.

August 28         ‘The Tornadoes’ beach volleyball club paid $522 off the amount they owe ‘Vacation’ for the purchase of the Rashies on August 12.                                                          

August 31         The first payment of $500 was paid off the loan that ‘Vacation’ borrowed from WAV Bank on August 20.  

this is what i have done:

General Journal

Date	Details	Debit ($)	Credit ($)
2/8/20202	Dinner Expense
	Cash at Bank	30
	Accounts Payable		30
	(WAVES café)
3/8/2020	Office Clean
	Cash at Bank	195
	Account Payable		195
	(Deepsea Company)
6/8/2020	SPF Fabric
	Accounts Payable	200
	Supplies	6000	6200
	(World Fabrics Ltd)
12/8/2020	Sold Rashies
	Cash at Bank	1674
	Sales
	(The Tornadoes)
20/8/2020	Loan for Lighting
	Equipment	2300	4300
	Loan Payable	2000
	(WAV Bank)
28/8/2020	Sold Rashies
	Cash at Bank
	Sales		1674
	(The Tornadoes)
31/8/2020	Loan Payment
	Loan Payable	500
			500

just wondering if I am on the right track, if not how can I fix it.

thank you!

Answer 1