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have to separate to debit and credit No. Transactions 1. Mr. Matthew deposited RM100,000 to the current account and brought a used motor van valued
have to separate to debit and credit
No. Transactions 1. Mr. Matthew deposited RM100,000 to the current account and brought a used motor van valued at RM55,000 for business purposes. Paid shop rent RM1,000 to its landlord by cheque. 2. 3. Purchased office equipment from Giant Bhd for RM8,500, paid RM4,000 in cash. 4. RM1,800 cash was paid in advance for advertising. 5. Purchased RM15,000 goods from XYZ Enterprise. Matthew Enterprise has been given 10 days credit term. Matthew Enterprise used perpetual inventory system. 6. . Paid RM1,200 electricity bill by cash. 7. Paid RM4,500 to Giant Bhd for office equipment purchased in transaction (3) via online banking transfer. 8. Paid RM15,000 to XYZ for the goods purchased in transaction (5) by cheque. 9. Mr Matthew was running short of cash at home. He withdrew RM1,000 from the business bank account to buy groceries for his family. 10. Received RM980 cash for business commission from Maria for selling her products
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