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Question 1 (23 marks) Part A The following events occurred for HSU Limited for the month of January 2022. Date 1 Jan Prepaid $100,000 of
Question 1 (23 marks) Part A The following events occurred for HSU Limited for the month of January 2022. Date 1 Jan Prepaid $100,000 of office rent for the period from 1 January to 28 February 2022. 10 Jan Performed services for customers and received $120,000 cash. 12 Jan Performed services for customer on account totalling $80,000. 18 Jan Collected $40,000 cash on account from the customer. 25 Jan Purchased computer for $35,000 in cash. 31 Jan 31 Jan Borrowed $500,000 from Bank by signing a note payable. Paid $2,000 cash for electricity and $19,000 cash for January's salary. Adjusted the rent expense for January 2022 (refer to 1 January). 31 Jan Required: Prepare the above journal entries for the month of January 2022 for HSU Limited. Narration is NOT required. (17 marks)
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