Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following transactions occurred in the business during the month of July 2021. Provided service for $6,000 and received 30% cash. The remaining 5-Jul balance

image text in transcribed

The following transactions occurred in the business during the month of July 2021. Provided service for $6,000 and received 30% cash. The remaining 5-Jul balance is on credit. The owner withdrew $2,000 from the business bank account. $800 7-Jul was used to pay the business's electricity expense. The owner used the remaining cash to buy a computer for personal use. Received $2,500 cash for services provided and recorded last 12-Jul month. Paid $5,500 wages expense recorded last month. Provided services for $7,000 cash received and recorded last 25-Jul month The owner contributed a vehicle costing $25,000 and equipment 28-Jul costing $8,000. Paid $5,000 to the supplier for supplies purchased and received last 30-Jul month. Required Prepare the general journal for the above transactions. Narration and dates are required. (17 marks) 17-Jul 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. 7 A B U I FI iii III 5 0 Date Accounts Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Executive Roadmap To Fraud Prevention And Internal Control Creating A Culture Of Compliance

Authors: Joel T. Bartow, Martin T. Biegelman

2nd Edition

1118004582, 9781118004586

More Books

Students also viewed these Accounting questions

Question

Describe new developments in the design of pay structures. page 475

Answered: 1 week ago