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On January 1, Bella set up a bridal boutique. The following transactions were completed during the month. Invested RM25,000 cash to start the business. Paid

On January 1, Bella set up a bridal boutique. The following transactions were completed during the month.

  1. Invested RM25,000 cash to start the business.
  2. Paid RM600 cash for January outlet rent.
  3. Purchased office equipment for RM8,000 cash.
  4. Incurred RM450 of advertising costs in the Explorer Magazine, on account.
  5. Paid RM750 cash for office supplies.
  6. Earned RM10,000 for services rendered: RM3,000 cash is received from customers and the balance of RM7,000 is billed to customers on account.
  7. Withdrew RM300 cash for personal use.
  8. Paid Explorer Magazine amount due in transaction (4).
  9. Paid employee's salaries RM5,600.
  10. Received RM5,400 in cash from customers who have previously been billed in transaction (6).

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