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PART E: Journalizing EX a b ? d e f g h i (20 Minutes/24 Marks) Cash sale is made to a customer Owner withdraws
PART E: Journalizing EX a b ? d e f g h i (20 Minutes/24 Marks) Cash sale is made to a customer Owner withdraws supplies from the business for personal use. Tax Exempt A bank credit memo is received for interest earned. Tax Exempt Sold one of the trucks included in the truck account at $23,000 for $3,000. Half paid in cash, half to be paid at a later date Received a purchase invoice from Peggy's garage for car repairs An error was discovered. Cheque #703 for supplies was journalized as $84 and should have been journalized as $48. Received an invoice from Murray Transport Co. For transportation charges on a shipment of a product. Tax exempt. Issued a credit invoice for goods sold that were inadequate. Merchandise for resale is purchased for I cash. When preparing the Post-Closing Trial Balance, it was discovered that there was still a balance in the Drawings account as the entry to close it had been forgotten in error. Debit 1 Credit 8, 13
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