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MotoFox is a vehicle parts supplier based in Durban that specialising in the sale of parts for older motor vehides. It is solely by owned
MotoFox is a vehicle parts supplier based in Durban that specialising in the sale of parts for older motor vehides. It is solely by owned by Mr. Nkosi who also manages the business at all times. The business started operating on 1 March 2019 during which the following transactions occurred: Date 1 3 4 10 14 16 25 30 Description Mr. Nkosi deposits R100 000 into the business bank account Various parts bought from suppliers for R40 000 and paid for in cash Sales made to customer for R5 000 cash with a cost price of R4 000 Stationary bought on credit for R3 000 Sales made to customer for R10 000 credit with a cost price of R9 000 Rental paid for building cash R3 000 Salary paid for assistant R8 000 Payment of R3 000 for stationary bought on credit REQUIRED: Prepare the general journal entries for the month of March 2019
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