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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:
$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.
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