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general journal entries for the transations Using the templates provided, prepare General Journal entries for the transactions. (Refer to Chapter 5 Accounting Principles Book One)
general journal entries for the transations
Using the templates provided, prepare General Journal entries for the transactions. (Refer to Chapter 5 Accounting Principles Book One) \begin{tabular}{|c|l|} \hline Date & \multicolumn{1}{|c|}{ Transaction } \\ \hline 01/6 & Initialcapitalpaidintobusinessbankaccount$35,000 \\ \hline 02/6 & Receivedmoneyforalong-termloan$100,000 \\ \hline 03/6 & Paidbusinessinsurancepremium$700+$70GST+$40stampduty(noGST). \\ \hline 04/6 & Paid cash for stationery \$165 including GST \\ \hline 05/6 & Interestreceivedonbankaccount$25GSTdoesnotapply) \\ \hline 06/6 & Servicerevenuesearnedincashamountedto$2,000+$200GST \\ \hline 07/6 & Commissionrevenuereceived$1200+$120GST \\ \hline 08/6 & \begin{tabular}{l} Paid cash for a vehicle \$16,000 + \$1,600 GST \\ \hline \end{tabular} \\ \hline \end{tabular} Step by Step Solution
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