Question
Question 3: The following transactions were undertaken by Mia's Cleaning Services during the month of Aug 2020. The business is registered for GST. Aug 1:
Question 3:
The following transactions were undertaken by Mia's Cleaning Services during the month of Aug 2020. The business is registered for GST.
Aug 1: Invoiced a client $1,000 plus GST for the service provided, the client is expected to pay within 10 days.
Aug 5:The business owner Mia further invested $8,?000 capital into the business to ensure it has sufficient cash for operations.
Aug 10:Purchased office supplies for $220 (including GST) on credit.
Aug 10:Received the payment from the client invoiced on August 1
Aug 30:Paid employee salary for the month, $1,500.
Required
A.Journalize the transactions above. Narrations are required. (Picture Below)
B.Post the journal entries in A to the provided ledger accounts. (Picture Below)
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