Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. PS Ltd engaged in the following transactions: a) Borrowed RM45,000 from the bank and signed a bill payable in the name of the business.

2. PS Ltd engaged in the following transactions: a) Borrowed RM45,000 from the bank and signed a bill payable in the name of the business. b) Paid cash of RM40,000 to a real estate business to acquire land. c) Performed service for a customer and received cash of RM5,000. d) Purchased supplies on credit, RM300. e) Paid RM1200 on account. f) Paid the following cash expenses: salaries, RM3,000; rent, RM1500; and interest, RM400. g) Received RM3,100 on account. h) Received a RM200 electricity and gas bill that will be paid next week. i) Withdrew RM1800 for personal use. Journalise these transactions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions