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5 Record the following transactions and make necessary adjustments for July 31st. (12 marks) 01-Jul-21 The organization purchased a one year insurance policy for $2,850

5 Record the following transactions and make necessary adjustments for July 31st. (12 marks) 01-Jul-21 The organization purchased a one year insurance policy for $2,850

01-Jul-21

The organization purchased office furniture for $14,760. Expected useful life is 6 years with salavage value of $1,800

01-Jul-21 The organization received a consulting fee of $6,000 for the month of July and August.

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