Journalize the transactions for July

Date Description Debit Credit

july 1 : All the inventory transactions will look for valuation class:During Good Receipt amount$60,000
1-Jul Inventory Account $60,000
G/R I/R account $40,000
Other expenses payable $20,000

july 2 : During invoice verification on amount $40,000

5-Jul G/R I/R account $40,000
Vendor/supplier $40,000

july 5: purchase $20000 for goods that are issued to the production order. the following transactions ta
Move Type Debit Credit
5-Jul Raw Materials account $20,000
Inventory A/c $20,000

july 15: When the goods are received from the production order,the following transactions takes place:
15-Jul inventory final goods A/c $70,000
Cost of goods produced $70,000

july 18: When sell goods of amount $45,000 that are dispatched to customer through delivery the followi
18-Jul Cost of goods sold $45,000
Inventory A/c $45,000

july 22: When the charged off $10,000 against expenses the following transactions takes place
25-Jul Repairs and maintenance A/c $10,000
Inventory A/c $10,000

july 24: When the goods are stock transferred from one place to another,the following transactions take
Stock A/c $15,000
stock A/c $15,000

july 28: when Revenue earned of $80,000 from sale goods

cash $80,000
Inventory Revalution A/c $80,000

july 30: When the work in progress of amount $30,000 is calculated,the following transactions takes pla
Work in progress A/c $30,000
Change in WIP $30,000

$370,000 $370,000
 where G/R=good receipt,I/R=invoice receipt

Receiving location
Sending location
 Online Inventory Manageme
Trial Balance
31-Jul-19

Account Name Ref

1 Inventory Account
2 G/R I/R send
3 G/R I/R receive
4 Payable A/c
5 Supplier Expense
6 cost of goods prod
7 cost of goods sold
8 Repair Expense
8 Stock send A/c
9 stock receive A/c
10 cash
11 Cash Revenue
12 Work in progress A/c
13 Change in WIP
14 Inventory finalgood
15 Raw material expense

Total
Online Inventory Management
Trial Balance
31-Jul-19
Balance
Debit Credit
$135,000
$40,000
$40,000
$20,000
$40,000
$80,000
$45,000
$10,000
$15,000
$25,000
$80,000
$130,000
$30,000
$30,000
$70,000
$20,000

$395,000 $395,000
 Online Inventory Manageme
Income Statment
For The One Month Ended July 3

Revenue
Cash Revenue
Stock receive
Cost of good sales
Total Revenue

Expenses G/R send expense

Supplier
good produce
Repair expense
Stock send
Change in WIP
Raw material expense
Total Expense
Income Statement
 Online Inventory Management
Income Statment
The One Month Ended July 31,2019

enue $130,000
eive $25,000
od sales $45,000
enue $200,000

expense $40,000
$40,000
duce $80,000
pense $10,000
d $15,000
WIP $30,000
rial expense $20,000
$235,000
($35,000) revenue-expense=income statement
R<E=loss