Question
January 2: Fanzi R invested $ 100 000 in his new business, deposited in a Bank of Montreal (BMO) chequing account January 2: Paid cash
January 2: Fanzi R invested $ 100 000 in his new business, deposited in a Bank of Montreal (BMO) chequing account January 2: Paid cash from BMO Account $ 12 000, before taxes, for the rent of the upcoming year January 3: Purchased from Francis Co, 100 products P1 at a price of $ 50 per unit and 200 products P2 at a price of $20 per unit and 300 P3 at $10 per unit (prices are before taxes) Sales terms: 2/10, n/30 January 5: Purchased from Vendor Selim Inc 150 P2 at a price of $ 18 per unit,before taxes. Terms: 1/10, n/30. January 7: Purchased 2 computers for $3.000,taxes included, paid by Visa credit card. (sales taxes on capital assets are not recoverable) January 8: Purchased office supplies for $500 before taxes, paid by visa card. January 9: sold 10 P1 at $100 before tax, paid by Mastercard. January 10: Sold to Lili Inc 50 P1 at a sales price of $ 80 before taxes and 100 P2 at a price of $40 before taxes per unit. Terms 1/10, n/30 January 10: sold to Sissi Ltd 20 P1 at $90 per unit before taxes and 50 P3 at $20 per unit before taxes terms: 2/10, n/30 January 10: Paid the full amount owed to Vendor Selim Inc., from BMO Account January 15: Received $ 5 000 in partial payment of the January 10th sale. Discount taken : $50 January 20: The business received a bill for advertising to be paid in February: $1.000 before taxes January 25: purchased a land for future office for $100.000, $10.000 paid cash from BMO account and the remaining amount by a bank loan (assume no sales taxes) January 31: The owner withdrew $ 5 000, for his personal use from BMO Account journalize the transactions
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