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Question Two Shah Sauood Marine is a boat repair yard. During August 2016, its transactions included the following: 03. Loan taken from Habib Bank Ltd.
Question Two Shah Sauood Marine is a boat repair yard. During August 2016, its transactions included the following: 03. Loan taken from Habib Bank Ltd. of Rs. 25,000. Rs. 20,000 withdrawn for business and remaining in the bank a/c. 06. Paid rent for the month of August Rs. 4,400 and accrued rent expenses was Rs. 600. 12. At request of Kiwi Insurance, Inc, made repairs on boat of Jon Seaways. Sent bill for Rs. 5,620 for services rendered to Kiwi Insurance Inc. (credit Repair Service Revenue). 18. Made repairs to boat of Dennis Copper and collected in full the charge of Rs. 2,830. 20. After that, placed Advertisement in The Dawn of Rs. 165, payment to be made within 30 days. 25. Received a check for 5,620 from Kiwi Insurance Inc representing collection of the receivable of August 12. 30. Sent check to The Dawn in payment of the liability incurred on August 20. prepare the journal entry
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