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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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