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Can someone help me with that? Please write every equation plz Harvey runs a small business selling e-bikes (which are imported from overseas). In February
Can someone help me with that? Please write every equation plz
Harvey runs a small business selling e-bikes (which are imported from overseas). In February 2018 which was the first month of business Harvey had the following transactions 1. Obtained a bank loan for $55,000 repayable in two years time 2. Purchased inventory for $35,000 and paid $15,000 in cash and the balance to be paid in May 2018 3. Paid a bond (deposit) of $6,000 on the retail shop that he opened. Harvey managed to negotiate 3 months' rent free period. The bond is repayable when the lease expires at the end of one year 4. Purchased furniture and equipment for $5,000. 5. Harvey paid $15,000 from his personal bank account into the business bank account as capital. Required: a) Record the following transactions using the worksheet on page 4 of the answer booklet. (5 marks) b) Prepare the balance sheet as at 28 February 2018 using the worksheet on page 4 of the answer booklet. (4 marks)Step by Step Solution
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