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Frutty Enterprise is a business supplying fresh fruit to supermarket in Rawang. Given below are the business transactions of Frutty Enterprise for the month of
Frutty Enterprise is a business supplying fresh fruit to supermarket in Rawang. Given below are the business transactions of Frutty Enterprise for the month of January 2020. Date January 2020 Transactions 3 Anas, the owner brought in RM100,000 cash and deposited the money into the business bank account. 5 Purchased 1,000 boxes of various types of fruits worth RM5,000 on credit from Anand Fruit Farm. 12 Purchased a large freezer worth RM2,500 on credit from Seng Kek Sdn. Bhd. 16 Sold 150 boxes of fruits worth RM3,000 to Pasar Segar Mahmud on credit 19 Issued cheque to Anand Fruit Farm to settle the remaining amount due. 21 Anas withdraw RM500 cheque for his personal use. 22 Pasar Segar Mahmud returned 5 boxes of fruits worth RM100 due to lack of freshness. 23 Received cheque of RM2,000 for the sales of 100 boxes of fruits. 25 Pasar Segar Mahmud paid the remaining amount owed by cheque. 26 Purchased 500 boxes of fruits from Highland Farm on credit at a price of RM7,500 due to stock shortages. 31 Issued cheque of RM7,500 to Highland Farm for full payments. Required: a. Show the journal entry for the transactions above. (11 marks) b. Prepare ledgers for the month of January 2020. (11 marks) C. Prepare trial balance as at 31 January 2020. (8 marks)
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