Answered step by step
Verified Expert Solution
Question
1 Approved Answer
It's the 20th July. You are keen to record the wheel aligner you paid for online with your private credit card. You will use a
It's the 20th July. You are keen to record the wheel aligner you paid for online with your private credit card. You will use a manual journal to record this asset purchase.
Tutorial: Add or edit a single manual journal.
Manual Journal:
- Narration: Wheel aligner paid for by personal credit card
- Date:20 July 2019
- Tick Show journal on cash basis reports and Default narration to journal line description.
- Auto Reversing N/A
- Amounts are Tax Exclusive
- Gross amount(incl GST) paid for aligner: $22,548.90
- Two lines: 710 - Workshop Equipment, 881 - Owner A Funds Introduced
- For marking purposes, please make sure your manual journal narration is: Wheel aligner paid for by personal credit card
What should be the debit amount and credit amount ?
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