Transactions from early January 2023 2 Issued Cheque No 4026 for $1,980 (includes 10 GST) to Discount Office Supplies for the cash purchase of office supplies 2 Obtained a loan of $13,000 from Uncle Peter (a family relative of Alonso Compton) at a simple interest rate of 6 per year, Cheque No 125, ID CR000001 The principal and interest on the loan are payable in six months time 3 Received Cheque No 241 from Radio Hut for the full amount outstanding on their account, ID CR000002 4 Purchased 9 units Swish Phones from Pony at $803 each (includes 10 GST), Purchase 349, Supplier Inv 949 Issued Cheque No 4027 for $2,900 to this supplier for this particular invoice at the time of the purchase 5 Issued Cheque No 4028 for $8,635 to Big Telco in payment of Purchase 346 (Supplier Inv 283) 5 Sold the following items on credit to Pikea, Invoice 3287 2 units BG90 plasma televisions for $2,530 each (includes 10 GST) 4 units Tony ZIO MLP projectors for $2,750 each (includes 10 GST) $5,600 was received immediately, Cheque No 608, with the rest due to be received during the last week of the month Note that MYOB automatically assigns ID CR000003 to this cash receipt After you have finished recording the above transactions in MYOB, Alonso asks you to use the MYOB Bank Register to find out about the current balance of the Undeposited Funds account He also tells you that he has additional questions for you to answer about your use of MYOB

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 29, 2024

Transactions from early January 2023 2 Issued Cheque No. 4026 for $1,980 (includes 10% GST) to Discount Office Supplies for the cash purchase of office

Transactions from early January 2023
2	Issued Cheque No. 4026 for $1,980 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies.
2	Obtained a loan of $13,000 from Uncle Peter (a family relative of Alonso Compton) at a simple interest rate of 6% per year, Cheque No. 125, ID #CR000001. The principal and interest on the loan are payable in six months time.
3	Received Cheque No. 241 from Radio Hut for the full amount outstanding on their account, ID #CR000002.
4	Purchased 9 units Swish Phones from Pony at $803 each (includes 10% GST), Purchase #349, Supplier Inv#949. Issued Cheque No. 4027 for $2,900 to this supplier for this particular invoice at the time of the purchase.
5	Issued Cheque No. 4028 for $8,635 to Big Telco in payment of Purchase #346 (Supplier Inv#283).
5	Sold the following items on credit to Pikea, Invoice #3287: 2 units BG90 plasma televisions for $2,530 each (includes 10% GST) 4 units Tony ZIO MLP projectors for $2,750 each (includes 10% GST). $5,600 was received immediately, Cheque No. 608, with the rest due to be received during the last week of the month. Note that MYOB automatically assigns ID #CR000003 to this cash receipt.

After you have finished recording the above transactions in MYOB, Alonso asks you to use the MYOB Bank Register to find out about the current balance of the Undeposited Funds account. He also tells you that he has additional questions for you to answer about your use of MYOB.