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Question 1 (CLO1) a. Explain the accounting concept of full disclosure with an example to show how a business adheres to the concept. b. Prepare
Question 1 (CLO1) a. Explain the accounting concept of full disclosure with an example to show how a business adheres to the concept. b. Prepare journal entries for each of the transactions below: i. The owner invested cash of RM15,000 into the business. ii. The business paid RM1,500 cash for this month's rent. iii. The business purchased on credit RM4,000 of supplies from Pena Enterprise to be used next momth. iv. The business billed RM6,500 to customers for v. The business paid cash for one-half of the amount owing to Pena Enterprise
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