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I would like to register this transactions in ther journal book. March 2021 Transactions Date Description of the Transaction March 1 Owners or OPJ invested
I would like to register this transactions in ther journal book.
March 2021 Transactions Date Description of the Transaction March 1 Owners or OPJ invested an additional $55.000 cash into the business. The cash is put into Bik Bank (As an example of how to pure and post a transaction--this transaction has already been entered into the General Journal and posted to the General ledger March 1 Pay off the $60 000 Note Payable owed to Little Bank The cash to pay off the note is taken out of Big Bank Also pay to Little Bank $450 for interest owed on the Note Payable for February The $450 cash is also taken out of Big Blank March 1 Take $5.550 cash out of Big Bank to pay for March's ront. March 2 The customer that purchased on credit on February 15 pays $88,000 cash to pay off the amount due The cash is deposited into Big Bank March 10 Sale of inventory to a customer-selling price $83,500 cost of the wentory sold $24,000 The customer pays cash. The cash is deposited into Little Bank March 15 Take $25,000 cash out of Little Bank to pay employees for wages they have eamed March 16 Purchase $73,750 of additional inventory OPJ will pay the manufacturer 50% of the $73,750 in 10 days. OPJ will pay the remaining 50% in 30 days. March 17 Sale of inventory to a customer-seling price $119,000 - cost of the inventory sold $38,000 The customer will pay for the purchase in 30 days. March 20 Sale of inventory to a customer soling price $178,500 - cost of the inwonlory sok $33,500 The customer pays $25,500 cash that is deposited into Little Bank The customer will pay the remaining amount in 30 days March 22 Purchase inventory for $44.000 cash. The cash is taken out of Big Bank. Directions Trans Chart Accts Journal GL Assets GL Lab-Equity GL Rev-Exp Trial Bal IS 8L RE Balsht PE March 20 Sale of inventory to a customer-selling price $178,500 - cost of the inventory sold $33,500 The customer pays $25,500 cash that is deposited into Little Bank. The customer will pay the remaining amount in 30 days March 22 Purchase inventory for $44.000 cash The cash is taken out of Big Bank March 26 Pay the manufacturer the 50% doe on the March 16th purchase of inventory The cashi is taken out of Big Bank March 30 Take $37.250 cash out of the Bank to pay employees for wages they have earned Additional Information Note Payable Big Bank: Interest due to Big Bank on the Note Payable for the month of March is 5695 As of March 31 OPJ owes Big Bank a total of $1,295 for interest (S600 for February + $695 for March) Interest will be paid to Big Bank in JuneStep by Step Solution
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