Question
Make journal entries below for the following transactions: a) Aug 2, 2024- An entrepreneur, Sharon, invests $2,000 cash and $3,000 equipment into her new small
Make journal entries below for the following transactions:
a) Aug 2, 2024- An entrepreneur, Sharon, invests $2,000 cash and $3,000 equipment into her new small business.
b) Aug 6, 2024- Sharon obtains a $3,000 bank loan.
c) Aug 11, 2024- Sharon purchases $1,200 of inventory on account.
d) Aug 14, 2024- Sharon completes a $150 cash jewellery repair for Karen.
e) Aug 18, 2024- Sharon pays a $220 utilities bill.
f) Aug 21, 2024- Sharon completes a $900 sale on account to Hugh. The goods had cost her $400.
g) Aug 25, 2024- Hugh pays half of his owed debt to Sharon.
h) Aug 29, 2024- Sharon repays $750 of her bank loan.
i) Aug 31, 2024- Sharon withdraws $300 cash from her business.
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