Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Question 2 On April 01 2020 Shilongo started business with N$100,000 and other transactions for the month are: 2. Purchase Furniture for Cash N$ 7,000.

image text in transcribed

Question 2 On April 01 2020 Shilongo started business with N$100,000 and other transactions for the month are: 2. Purchase Furniture for Cash N$ 7,000. 8. Purchase goods for cash N$2,000 and for credit N$1,000 from Furnimate Store. 14. Sold goods to Furnimate N$12,000 and Cash Sales N$5,000. 18. Owner withdrew of worth N$2,000 for personal use. 22. Paid Furnimat Store N$500. 26. Received N$10,000 from Furtnimate Store. 30. Paid salaries expense N$2,000 Required: Prepare journal entries to record the above transactions. Include narratives in your journal entries. [25 marks) General journal entries Date Account Title and explanations Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions