Question 1[DRBAB1] [DRBAB2]

The following are transactions made during the month of October 2020 by Alif Ba Ta Company:

• Owner invests RM100,000 in the company
• Buys equipment for business use for RM20,000, paid RM5,000 and the balance on account.
• Sales inventory amounts to RM6,500 in cash
• Pays advertising company for advertising service, RM15,000
• Sells inventory to credit customer, RM25,000
• Buys goods from supplier on credit, RM13,000
• Receives RM5,000 from customer on account
• Pays creditor on account, RM10,000

Required:

1. Journalize the above transactions.
2. Post the journal entries in (b) to their respective ledgers.
3. Prepare a trial balance for Alif Ba Ta Company for October 2020.

[DRBAB1]

[DRBAB2]