Answered step by step
Verified Expert Solution
Question
1 Approved Answer
List down the general journal entries for the period of 31 Jan 2021 Date Transactions Jan 3 6 Purchased goods on credit from Moore full
List down the general journal entries for the period of 31 Jan 2021
Date Transactions Jan 3 6 Purchased goods on credit from Moore full price RM1 800, less 25% trade discount Purchases using cheque for RM230 Returned goods to Moore full price RM150 Cash sales of RM650 7 8 10 Credit sales to A Hill full price RM1 120 Cash sales RM425 11 12 14 15 Paid wages using cash in hand RM85 Paid general expenses by cheque RM45 Deposit cash into the bank RM800 Credit purchases from Wright RM672 Credit sales to C Parker RM720 17 20 24 25 26 27 28 A Hill returned goods full price RM160 D. Trump took RM60 cash from the office for personal use Paid a cheque to Moore for amount owing RM1 200, less 2% cash discount Repaid bank loan by cheque RM400 Paid rent by cheque RM180 Bought office supplies on credit from J Carter RM500, invoice number P74 D. Trump took goods worth of RM200 for personal use Received a cheque from C Parker for the amount owing for goods bought on 20 January, less 2.5% cash discount 29 30 30 31 Interest on the bank loan as shown in the bank statement RM54 Other information: All fixed assets are depreciated using straight line with useful life of 5 years and salvage value of RMO. All depreciation start from Jan 1Step 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