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The following transactions occurred during the month of July 2022; Received cash of $8,500 for services provided 5 August and recorded last month. 7 August

image text in transcribed The following transactions occurred during the month of July 2022; Received cash of $8,500 for services provided 5 August and recorded last month. 7 August The owner contributed $20,000 cash and a machine costing $15,000 to the business. Purchased a car for $20,000 and paid 10% cash 12 August deposit. The remaining balance is to be paid next month. 17 August Provide services for $7,000. Received 40% cash and the remaining balance is on credit. 24 August Paid wages of $500 recorded last month. 26 August Repaid $4,000 bank loan. Provided services for $3,500. Cash was received 30 August and recorded last month. Required: Prepare the general journal for the above transactions. Narration is required. (17 marks) If you accidentally delete the answer template, you may undo the deletion using "Ctrl + Z" (for Windows) or "Command + Z" (for Mac). If that does not work, please click on this link Answer Template. You may copy and paste the answer template to the answer box

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