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The owner made an electronic fund transfer [EFT] of R100 000 into the bank account of the business as his initial capital contribution. Purchased shelving
The owner made an electronic fund transfer [EFT] of R100 000 into the bank account of the business as his initial capital contribution. Purchased shelving on credit for R30 000 from Hatfield Master. Purchased trading inventory from Boulders Traders for R20 000 and paid by cheque. Purchased trading inventory from Mkhinto Warehouse for R8 000 on credit. Cash sale of merchandise as per cash register tape, R7 500. Credit sale of merchandise to F. Sako as per inv. No. 747, R2 000 . Returned unsatisfactory merchandise costing R1 300 to Mkhinto's Warehouse Prepare a General Ledger double entry for Arkansas Furniture and show the correct General Ledger equations
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