Question
Identify the books of prime entry used to record the following transactions. Transactions Books of Prime Entry/Special Journals Example: Purchased goods of RM4,000 on credit
Identify the books of prime entry used to record the following transactions. Transactions Books of Prime Entry/Special Journals
Example: Purchased goods of RM4,000 on credit from Rekka Enterprise. Purchase Journal i. Kaison Bhd bought a piece of land worth RM70,000 on credit. ii. Received payment from customer for goods delivered amounting to RM12,500. iii. A credit customer returned goods of RM900 due to wrong specification. iv. Paid insurance premium amounting RM3,000 cash. v. Issued cheque to Alken Enterprise for goods purchased worth RM2,500. vi. The business returned goods to Donald Trading costing RM2,000 due to damage on delivery. vii. Sold goods worth RM6,600 to Maya on credit. viii. Purchased goods from AI-Ikhsan Enterprise worth RM16,700 on credit. ix. Purchased office furniture from Syarikat SAW at a price of RM14,500 cash. x. Cash sales to Megan amounting RM1,000.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started