Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Requirement 3: Journalize the following transactions. 9 Marks. CLO 3 1. Sara starts a business with 21000 in cash, 4000 accounts receivable and 2000 accounts
Requirement 3: Journalize the following transactions. 9 Marks. CLO 3 1. Sara starts a business with 21000 in cash, 4000 accounts receivable and 2000 accounts payable. 2. Received electricity bill for 200 (not paid) 3. Purchased goods for 5000 on account 4. Goods sold 6000 on account 5. Sold the machine for 3000 in cash 6. Drawing cash 1000 by the owner 7. Sent a bill to one customer for 800 for service provided. 8. Paid 3000 for goods purchased previously 9. Receiving 2000 in cash for the goods sold previously. Journalizing Account Debt Credit No 1. 2 3 4 5 6 7 8 9
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