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make a journal ledger. Siyles Q: Mr. Robert commenced business on 1st January, 2011 with a capital of $100,000 in cash same date he opened
make a journal ledger.
Siyles Q: Mr. Robert commenced business on 1st January, 2011 with a capital of $100,000 in cash same date he opened the bank account in ADCB and deposited $20,000. During the month of January 2011 the following transactions took place, 1. Bought goods for cash 70.000 2. Sold goods to Steve Co. (Credit) 38,000 3. Sold goods for cash 9,000 4. Steve Co. paid by cheque 35,000 5. Stationery bill paid by chegue 2,000 6. Telephone bill by cash 500 7. Paid rent by cash 2,000 8. Paid salaries by cash 3,000 9. Withdrew cash personal use 5,000 Required: Make journal entries for the transactionsStep by Step Solution
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