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Please answer in word with explanation, thank u. Date Oct 1 2 3 5 6 6 8 8 12 15 17 Transactions Emily open a
Please answer in word with explanation, thank u.
Date Oct 1 2 3 5 6 6 8 8 12 15 17 Transactions Emily open a bakery supplies company named Cravebites with RM20,000 investment into bank She purchase an equipment for RM4,000 cash She purchased furniture and fittings for RM2,300 Cravebites purchased first inventory of RM5,500 from Sugar Plum on credit. Payment term n/60. Cravebites advertise their service for RM270 paid later Cash sales of RM250 was recorded at end of day. Credit sales was made to Honey Pumpkin for RM1,200. Payment term 1/10 net 30. Cash sales of RM580 was recorded at end of day. Credit sales was made to Cinnamon Spice for RM2,200. Payment term 1/10 net 30. Cash sales of RM1,350 was recorded at end of day. Return inwards from Honey Pumpkin due to damage. Sales amount was RM150. Cash sales of RM1,100 was recorded at end of day. Return outwards to Sugar Plum due to damage. Purchased amount was RM750. Cash sales of RM350 was recorded at end of day. Cravebites pay Sugar Plum RM1,000 being partial payment for goods taken on 5 Oct. Cravebites purchased new inventory on cash RM1,000. Cash sales of RM770 was recorded at end of day. Cravebites received RM600 from Honey Pumpkin being partial payment for sales on 8 Oct Emily withdraw RM1,000 from business for personal use Cravebites pays the following: RM700 of rent, RM1,100 of staff wages and utilities RM120 Cravebites pay the advertising invoiced earlier 20 21 22 23 23 24 24 26 27 28 Requirement: Prepare the following: (a) Journal Entries. (b) Post into ledgerStep by Step Solution
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