The following transactions occurred during the month of October 2020. 5 October The business received $5,000 cash from a customer for services provided and recorded
The following transactions occurred during the month of October 2020.
5 October | The business received $5,000 cash from a customer for services provided and recorded last month. |
7 October | The business received $6,000 for services to be provided in December 2020. |
12 October | The owner contributed $2,300 cash and a computer costing $2,000 to the business. |
17 October | The owner withdrew $500 from the business bank account and paid the water bill of the owners house. |
25 October | The business provided services for $6,000 and received $1,500 cash. The remaining balance is on credit. |
28 October | The business paid annual insurance premium of $3,600. |
30 October | The business purchased a machine for $5,000 and paid 10% cash deposit. The remaining balance will be paid later. |
Required: Prepare the general journal for the above transactions. Narrations ares required. (17 marks)
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