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Firestone Pty Ltd is a new company that has been established in 2021. Below are the transactions occurred for financial year 2022. Prepare a journal
Firestone Pty Ltd is a new company that has been established in 2021. Below are the transactions occurred for financial year 2022. Prepare a journal entries for each transaction on behalf of Firestone Pty Ltd. Ignore GST. 1. Owner has deposited $210,000 worth of Machinery and $13,000 cash into the business on 1 July 2021. 2. Bank has agreed to lend $2,700,000 loan that will be repaid in the next 9 years. The approval was signed on 15 July 2021 and the amount was received on the same day. 3. Provided a service to a customer on 1 August 2021 and was being paid $9,700 on the same day. 4. Engaging a tradesman for site maintenance purpose. On 12 August 2021, received a bill $6,500 due in September. 5. Purchased some office supplies on account on 30 August 2021. Total spend was $4,250. 6. On 14 September 2021 , paid the bill owing for 12th August maintenance
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