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Salim started in busmess on 1 April 2017 and his transactions for the first month are as follows: 2017 April 1 Opened business bank account
Salim started in busmess on 1 April 2017 and his transactions for the first month are as follows: 2017 April 1 Opened business bank account with capital RM 40,000 14 Purchased van by cheque 8,000 Purchased inventory on credit from Mimi 12,700 Purchased inventory by cheque from Kiki Enterprise. 7,900 Cash Sales 9,640 Paid wages in cash 430 Paid rent by cheque 1,250 9 Banked in cash 6,000 Cash Sales 7,850 15 Bought inventory with cash 5,290 20 Paid wages in cash 670 Purchased inventory from Mimi paying by cheque 7,840 25 CashSales 12,400 Banked cash 8,000 Paid wages in cash 700 Paid sundry expenses in cash 170 Sold goods on credit to Haji 2,900 Required: Joumalize the above transactions and enter in Salim's ledgers. (10 marks) 24 27 27 a b. Briefly explain with examples on Source of Documents in relation to Prime Book Entry and Bookkeeping. (10 marks)
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