Question
3. Record the following transactions in the general journal of Jennifer Taylor a sole proprietor after which we need to post the entries to the
3. Record the following transactions in the general journal of Jennifer Taylor a sole proprietor after which we need to post the entries to the ledger account, for the month of June 2003. Mrs. Taylor has just started a fashion store. June 1 Received loan from BICB Bank $300,000, the cash is in the bank. June 5 Mrs. Taylor invested furniture valued at $20,000 and a motorcar valued at $120,000 in her business. June 10 Fixtures and fittings costing $30,000 are acquired for the shop. Payment made by cheque. June 16 Cash withdrawn from the bank, $34,000. June 20 A cash register valued at $20,000 is received as a gift from her brother for use in the business. June 23 Today is Mrs. Taylors birthday so she takes $5,000 cash to buy herself a new dress. June 30 Mrs. Taylor buys two sewing machines for $23,000 each by cheque.
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