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Date Transactions December 1 Started a financial planning services company by investing RM150,000 cash and office equipment of RM50,000. 2 Purchased RM12,000 of office equipment
Date Transactions December 1 Started a financial planning services company by investing RM150,000 cash and office equipment of RM50,000. 2 Purchased RM12,000 of office equipment on credit. 3 Purchased RM3,000 of office supplies on credit. 4 Completed service for a client and received a payment of RM9,000 cash. 8 Completed service for Syarikat Bizara on credit amounting to RM17,000. 10 Paid the supplier for the office supplies purchased on 3 December. 14 Paid RM9,600 being the annual premium for an insurance policy. 18 Received payment in full from Syarikat Bizara for the service completed on 8 December. 27 Owner withdrew RM6,500 cash from the company to pay personal expenses. 30 Paid RM1,750 cash for the utility bills in December. 31 Received RM20,000 cash from a client for a financial service to be rendered next year. Required: a) Prepare journal entries to record all of the above transactions. b) Post the journal entries to the three column ledgers. c) Prepare the trial balance as at 31 December 2020
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