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Mr. Kopil is a Chartered Accountant. He started a new consultancy firm on July 1, 2021. During the first month of operations the following transactions
Mr. Kopil is a Chartered Accountant. He started a new consultancy firm on July 1, 2021. During the first month of operations the following transactions occurred: July 1; He invested Tk.2,80,000 cash in the consultancy firm. 10; Paid Tk.9,500 cash for office rent for the month of May. 99 15; Purchased office equipment for Tk.45,000 paying Tk.20,000 in cash and for remaining, he signed on a 3-month, 9% Notes Payable. 17; Paid Tk.6,000 for one-year fire insurance policy. 21; Performed service for a client and received cash of Tk.15,000. 99 26; Performed service for a client but not yet received Tk.5,000. 99 30; Withdrew Tk.1,000 cash for personal use. 99 31; Received bill for utility expenses Tk. 1,400. The bill will be paid later on. Prepare journal entries to record each of the July transactions. Omit explanations
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