Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journalize the following transactions. to debt and credit Sara starts a business with 21000 in cash, 4000 accounts receivable and 2000 accounts payable. Received electricity

Journalize the following transactions. to debt and credit

  1. Sara starts a business with 21000 in cash, 4000 accounts receivable and 2000 accounts payable.

  2. Received electricity bill for 200 (not paid)

  3. Purchased goods for 5000 on account

  4. Goods sold 6000 on account

  5. Sold the machine for 3000 in cash

  6. Drawing cash 1000 by the owner

  7. Sent a bill to one customer for 800 for service provided.

  8. Paid 3000 for goods purchased previously

  9. Receiving 2000 in cash for the goods sold previously.

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

Advanced Financial Reporting And Analysis

Authors: John Dunn, Margaret Stewart

1st Edition

0470973609, 9780470973608

More Books

Students also viewed these Accounting questions

Question

What sanctions are used in Japan? Please explain.

Answered: 1 week ago