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Please journalize the following transactions and register them in T-account: 1)15th November- An entity incurred(received the bill for) electrical power cost for production of 500$
Please journalize the following transactions and register them in T-account:
- 1)15th November- An entity incurred(received the bill for) electrical power cost for production of 500$
- 2)19th November: It received and paid the rent bill pot the month, of 500$ (manufacturing facilities)
- 3)29th November: It incurred wages for production personnel (2000$)
- 4)29th November: It obtained finished goods at their production(conversion) cost
- 5)30th November:
- a) It did not sell any of the finished goods manufactured
- b)It sold all the finished goods on hand, for 6000$(on credit)
- c)It sold half of the finished goods on hand, for 3000$(on credit)
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