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Change the session date to July 8, 2024. Create shortcuts or change modules and enter the following transactions. NOTE: Deposits and withdrawals, except credit card
Change the session date to July 8, 2024. Create shortcuts or change modules and enter the following transactions. NOTE: Deposits and withdrawals, except credit card transactions, use Bank: Chequing Account. Chriss welding tank exploded when a customer accidentally dropped it. Write off the welding tool equipment recorded in account # 1480 valued at $750. Create new Group expense accounts 5100 Damaged Tools and 5265 Wages and Payroll Expenses. Bank Debit Memo #PB-77386 Dated July 8, 2024 From Payblo Bank, pre-authorized bi-weekly payroll for employees. Wages and payroll expenses $6,000.00 Payroll services fee 80.00 HST paid on payroll services 10.40 Total withdrawal $6,090.40 ChatGPT I can help you with those transactions. Here are the entries for the specified transactions, including the creation of new expense accounts: Write off the welding tool equipment: Debit: Damaged Tools (Account #5100) $750.00 Credit: Equipment (Account #1480) $750.00 Bank Debit Memo #PB-77386 (Pre-authorized bi-weekly payroll): Debit: Wages and Payroll Expenses $6,000.00 Debit: Payroll Services Fee $80.00 Debit: HST Paid on Payroll Services $10.40 Credit: Bank: Chequing Account $6,090.40 Please ensure that you have these accounts set up in your accounting system and that you're following any specific accounting standards or guidelines relevant to your business. please give the answer in fully datail
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