Question
Cash 100,000 Banks 25,000 Bank Loans 110,000 Notes Receivable 30,000 Merchandise Inventory 310,000 Notes Payable 80,000 Fixtures 200,000 Transportation Equipment 70,000 Mr. Robbert started his
Cash | 100,000 |
Banks | 25,000 |
Bank Loans | 110,000 |
Notes Receivable | 30,000 |
Merchandise Inventory | 310,000 |
Notes Payable | 80,000 |
Fixtures | 200,000 |
Transportation Equipment | 70,000 |
Mr. Robbert started his business at March, 1 with the above assets and liabilities. The intra-period transactions of the business are as follows:
December 4: The amount of $ 125,000 merchandise inventory is sold, of which 80,000 $ is paid in cash.
December 10: The rent amounting to $ 15.000 is paid through banks.
December 15: Buyer deposits 40.000 $ in the bank account of the business in return for his debt.
December 20: Merchandie inventory worth 30.000 $ are purchased. 20.000 $ part of the cost of the goods is due. A check is given for the remaining amount.
December 24: Goods worth $ 40,000 were sold. For the amount of 15.000 $ of the cost of the goods, a check was received for the remaining amount.
December 26: Due debt amounting to $ 60.000 has been paid.
December 28: The amount of checks received on December 24 was collected through banks.
December 30: Stationery material amounting to $ 2000 was purchased for cash.
a)Let's record what Robbert had on his first job as a journal entry. If there is a missing item, you have to calculate it and replace it
b) Afterwards, save the inra-period transactions as journal entrie and ledger.
This lesson is Accounting principles. Can you clearly explain debit side and credit side and also ledger and journal entries. If make a clear table, i will understand and give like <3. be detail pls.
Thanks
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