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Question 5 (6 marks) Prepare general journal entries to record the following transactions for XYZ Group that occurred during January 2018: (5 marks) Date occurred
Question 5 (6 marks)
- Prepare general journal entries to record the following transactions for XYZ Group that occurred during January 2018: (5 marks)
Date occurred | Transactions |
3 January 2018 | A bill for utilities used was received $990 |
10 January 2018 | Rent for the current month was paid by cheque $2,000 |
15 January 2018 | A salary of $1,900 was paid by cheque |
21 January 2018 | Interest income accrued but not recorded $5,000 |
27 January 2018 | Installation of furniture fitted to the clients premises for cash $4,500 |
ANSWER:
- If you make profit in your business, will you expect to see equity increasing or decreasing? Why? (1 mark)
ANSWER:
please answer in proper format
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