On 17 December Phil draws 27,300 from the business bank account to pay the wage bill due
Question:
On 17 December Phil draws £27,300 from the business bank account to pay the wage bill due on 20 December.
On 23 December he pays £4,768 cash receipts into the bank account.
Required
Show the entries necessary to complete both transactions.
Many larger businesses now keep a cheque payments book and a cash receipts and lodgement book. This is certainly the case where the bulk of transactions are conducted through the bank account.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
To complete both transactions you would need to make the necessary entries in the cash boo...View the full answer
Answered By
User l_998468
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0 Reviews
10+ Question Solved
Related Book For 
Question Posted:
