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For each of the following, state the double entry required to record the transaction in the accounts: 1 Alfie transfers $10,000 of his personal savings
For each of the following, state the double entry required to record the transaction in the accounts: 1 Alfie transfers $10,000 of his personal savings into a business bank account. 2 He then buys goods from Isabel, a supplier, for $1,000 and pays by cheque. A sale is made for $400 - the customer pays by cheque. Alfie makes a sale for $600 and the customer promises to pay in the future. Alfie then buys goods from his supplier, Kamen, for $500 on credit. Alfie pays a telephone bill of $150 by cheque. The credit customer pays the balance on her account
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