EXERCISE 2.8 ACC Assume you wish to establish a sole trading cookies business in that you will sell finished goods to customers in (company name: NESS Cookies Enterprise) in your area. Construct possible business transactions between your company and the suppliers, as well as between your organisation and its customers. Create possible business transactions between your business and suppliers and also between your business and customers. You should be able to make approximately 20 to 25 business transactions. At a minimum, business transactions should include the following: 4 credit transactions for trading activities 2 return transactions 4 cash transactions relating to trading activities 2 drawing transactions 2 logical operating expense transactions 2 other revenue transactions Other Transactions EXAMPLE OF BUSINESS TRANSACTIONS Date Transactions Jan Start a business with cash RM 500 000 and transfer RM 450 000 to bank. Jan 2 Brought office equipment RM 5 000. Jan 3 Purchase 200 units of television at price RM 599 and 100 units of refrigerator at price RM 2999 at Marry Kim Sdn on credit. Jan 4 Mutiara Batrisyia buy 2 units of refrigerator on credit at cost RM 7 100. Jan 5 Pay carriage outwards RM 200. Pay carria Jan 7 Purchase 300 units of iron at RM 59 and 150 units of stand fan at RM 120 on credit at Syafiq Enterprise. Jan 9 Sales 100 units of stand fan to Tantan Enterprise at cost RM 19 900 on credit. Jan 10 Return 50 units of broken iron RM2 950 to Syafiq Enterprise. Jan 11 Mutiara Batrisya pay all of the transaction on 4- January Jan 12 unit of television and refrigerator had been taken for personal use RM 3 598. Jan 15 Tantan Enterprise return 10 unit of stand fan. Jan 16 8 units of television, 25 units of stand fan and 67 units of iron was sold by cash at cost RM 18 930 Jan 19 Purchase 50 units of stand fan cost RM 6 000 by cash. Jan 21 Pay RM 100 000 to Marry Kim Sdn Bhd by cheque. Jan 22 Take RM 500 for personal use. Jan 23 Pay rent for RM 2 000. Jan 25 Repair television and receive RM 300 cash. Jan 26 Received RM 900 cash from Tantan Enterprise. Jan 27 Purchase 20 units of refrigerator by cheque cost RM 58 000 Jan 28 Received a commission RM 850. Jan 29 Pay the salaries and utility expenses RM 4 500. Jan 30 Brought computer cost RM 800 for company use. Jan 31 Pay RM 10 000 to Syafiq Enterprise by cheque