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having trouble with this question please help The following eight transactions relate to Mum's Pie Shop for the month of May 2021. 1. Martha, owner
having trouble with this question please help
The following eight transactions relate to Mum's Pie Shop for the month of May 2021. 1. Martha, owner of Mum's Pie Shop deposited $20,000 of cash to start the business. 2. Paid in cash rent of $3,450 to Figtree Realty 3. Purchased $5,000 worth of counters and shelving from Wollongong Shopfitters. Invoice due in 30 days. 4. Purchased a motor vehicle for the business, signing a 1-year loan for 23,000. 5. Paid $1,500 to Bayview Insurance Brokers for a 1-year business insurance policy commencing 21 June (cheque no.3). 6. Received $7,000 of cash revenue and an additional $8,000 was earned through credit customers. 7. Paid off balance owing for counters and shelving equipment purchased in transaction 3. 8. Banked $2,520 cash and cheques from deliveries since the shop opened. Required: Prepare the general journal entries to record the above transactions. Narrations are not required. (16 marks) 7 A- B I $ Mum's Pie Shop General Journal Particulars Dr Cr 1. 2. 3Step by Step Solution
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