Answered step by step
Verified Expert Solution
Question
1 Approved Answer
d) Record all the transactions below in the appropriate journals. (General journal and special journal) Transactions 1. The owner starts a business with RM
d) Record all the transactions below in the appropriate journals. (General journal and special journal) Transactions 1. The owner starts a business with RM 50,000 cash deposited in the business's bank account and brought furniture RM 12,000 into the business. 2. 3. Goods sold on credit for RM 5,000 to Simon Enterprise and RM 1,500 to Lion Enterprise. Goods returns by Simon Enterprise amounted to RM500 due to incorrect specification. 4. Received cheque from Lion Enterprise on the outstanding amount. 5. Cash purchases of RM8,200. 6. Purchasing goods from Loca Loca Enterprise on credit amounted to RM2,500. 7. Returns damaged goods to Loca Loca Enterprise RM 200. 8. Issued a cheque to Loca Loca Enterprise for the amount due. (15 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started