Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 11 (30 marks). Sally's Chef Services provides home cooked meals to busy professionals. During November 2021, the following transactions took place. Received travel
Question 11 (30 marks). Sally's Chef Services provides home cooked meals to busy professionals. During November 2021, the following transactions took place. Received travel bill for $1,760 which will be paid next month. Received $3,770 cash for training services provided. Borrowed $5,000 cash from the bank. Received $580 from a customer who owed money on training services already provided. Nov 1 Nov 4 Nov 6 Nov 7 Nov 10 Nov 11 Paid telephone expense of $90 for the month with cash. Nov 21 Nov 24 Paid $920 cash to reduce the amount owed to a supplier. Paid $15 interest on the bank loan. Prepaid $2,000 cash for rent for one year. Prepare the journal entries for the above transactions. (continued on next 2 pages)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started