Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Task 2 The following transactions for Feb 2020 relate to a business operated by Amazon Traders. Note: Where applicable amounts are GST inclusive If
Task 2 The following transactions for Feb 2020 relate to a business operated by Amazon Traders. Note: Where applicable amounts are GST inclusive If there is not an appropriate column then use the sundries column Date Invoice Details Particulars GST Amount $ # Feb Yes/No 1 CR1 Ben Hur the owner contributed cash to commence business No 30,000 2 101 Purchased Computer for cash 2,750 102 Paid rent of premises 1,320 3 103 Cash purchase of inventory 2,200 4 CR2 Cash sales of inventory 1,100 CR3 Commission received 880 5 104 Ben Hur withdrew cash for personal use No 110 6 BS Bank interest received No 50 7 EFT Paid February wages No 650 105 Paid advertising expense 550 8 BPay Paid Council rates No 900 9 BS Bank charges paid No 25 10 CR4 Cash sales of inventory 770 Enter these transactions into the cash receipts journal or cash payments journal and total the books at the end of the month according to the business policies and procedures.
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