Please journalize the transactions. 1 September 1 September 1 September You purchased 20 items of SKU112820, 10
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Please journalize the transactions.
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1 September 1 September 1 September You purchased 20 items of SKU112820, 10 SKU112821, 15 SKU112822, and 12 SKU112823 from Focus Bikes. You received all the stocks ordered and paid 20% of the purchase price together with the freight of $253 incl. GST. You agreed to pay Focus Bikes the balance on 5th October. You paid $11,440 incl. GST for a three-month product liability insurance policy to Society Insurance. You received $46,750 incl. GST cash in advance from clients for a one-year subscription to your company featured magazine, "RideOn". 1 September 1 September 1 September You purchased 20 items of SKU112820, 10 SKU112821, 15 SKU112822, and 12 SKU112823 from Focus Bikes. You received all the stocks ordered and paid 20% of the purchase price together with the freight of $253 incl. GST. You agreed to pay Focus Bikes the balance on 5th October. You paid $11,440 incl. GST for a three-month product liability insurance policy to Society Insurance. You received $46,750 incl. GST cash in advance from clients for a one-year subscription to your company featured magazine, "RideOn".
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Date September Particulars Debit in s Credit in s 1 Purchases Focus Bikes ... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
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