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Carefully consider the following transactions and complete the missing table values to illustrate the double entr process. 1 Purchased furniture on credit from Maggie $2000
Carefully consider the following transactions and complete the missing table values to illustrate the double entr process. 1 Purchased furniture on credit from Maggie $2000 2 Sold goods to Victor $800 3 Cash sales $500 4 Received Rent $450 5 Cash purchases $1000 6 Paid electricity $800 7 Bought goods on credit from Sarah $1200 8 Paid Sarah $300 and received a $10 discount 9 Owner withdrew goods to the value of $100 and $50 cash 10 Victor declared bankrupt. Show which Journal will be used to record transactions as well as the accounts used in the general Ledger: 1 2 4 5 6 7 8 Book of First Entry Account debited in GL Value ($) Account Credited in GL Value ($) O O C ( O (> ( O (> O O O ( O ( ( ( (> (> O ( 1 Purchased furniture on credit from Maggie $2000 2 Sold goods to Victor $800 3 Cash sales $500 4 Received Rent $450 5 Cash purchases $1000 6 Paid electricity $800 7 Bought goods on credit from Sarah $1200 8 Paid Sarah $300 and received a $10 discount 9 Owner withdrew goods to the value of $100 and $50 cash 10 Victor declared bankrupt. Sho 1 2 3 4 5 6 7 8 CRJ CPJ SJ SRJ PJ PRJ GJ HE 1 transactions as well as the accounts used in the general Ledger: I in GL Value ($) Account Credited in GL Value ($) ( O } 0 ( ( ( ( (> ( ( O (
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