Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I think it is demanding journal entry, if yes, then every entry must have narration please answer in text (without image) it is easy to

image text in transcribed

I think it is demanding journal entry, if yes, then every entry must have narration

please answer in text (without image) it is easy to copy

Question 1 [10 marks] Ahmad Enterprise is a furniture shop located in Petaling Jaya, Selangor. The business has been operating for the past three years. The following are the business transactions for July 2020. a) Bought goods from Sulaiman on credit. Received discount. b) Sold goods on credit to LS Private Limited. C) Bought a van from Berjaya Vehicles on time. d) Sold goods to Excel Enterprise. Payment via online banking. Issued 3% discount. e) Paid water bill via online banking. f) Paid Sulaiman by cash. g) LS Private Limited paid RM3,500 by cheque. h) Bought goods from Yoko Office by cash. i) Puts additional capital of RM8,000 into the business bank account. i) issued cheque to Zainah Engineering Enterprise for office cabinets installation. You are required to state the accounts to be debited and credited. [10 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What is voice over internet ( voip )

Answered: 1 week ago