Question
Prepare journal entries in National Banks books Hard Work Pays is a merchandizing company that imports goods from the USA as well as buys locally
Prepare journal entries in National Banks books
Hard Work Pays is a merchandizing company that imports goods from the USA as well as buys locally from wholesalers.
- On 13/9, Hard Work Pays instructed its bank to wire a transfer of JD 2500 to one of its suppliers account at National Bank Madaba Branch. Hard Work Pays has a current account with National Bank Main Branch. The bank charges 2% commission and JD 5 mailing charges.
- On 2/10, National Bank received a transfer to the benefit of Hard Work Pays for JD 1700 from a retailer in Aqba. National Bank credits Hard Work Pays current account with the amount the next day after deducting JD 1.500 commission.
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