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On 1 July 2020, Lee started a business. The following are her transactions for the first month of trading. 2020 July 1 Lee paid
On 1 July 2020, Lee started a business. The following are her transactions for the first month of trading. 2020 July 1 Lee paid capital into the business bank account 2 Bought premises and paid by cheque 50,000 25,000 4 Bought equipment and paid by cheque 4,000 6 Bought goods on credit from Mayur Trading 1,500 7 Paid advertising expenses by cheque 60 9 Sold goods on credit to Ridhima 310 12 Sold goods to Bilal and received a cheque 200 13 Ridhima returned damaged goods to Lee 20 14 Paid cheque to Mayur Trading for the account owed to them 1,300 and received $200 cash discount 17 Lee took good for his own personal use 140 REQUIRED: (a) Identify the journal entry for each of the transactions above.
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