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vido Ltd is a manufacturer and retailer. You are closing the books of the company for the year ended 30 June 2020. The following are

vido Ltd is a manufacturer and retailer. You are closing the books of the company for the year ended 30 June 2020. The following are the transactions:

  1. Office supplies having original cost Kshs 6,510 were unused till the end of the period. Office supplies having original cost of Kshs 30,800 are shown on unadjusted trial balance.
  2. Prepaid rent of Kshs 24,000 was paid for the months January, February and March.
  3. The equipment costing Kshs 120,000 has useful life of 5 years and its estimated salvage value is Kshs 38,000. Depreciation is provided using the straight-line depreciation method.
  4. The interest rate on Kshs 30,000 note payable is 8%. Accrue the interest for one month.
  5. Kshs 3,000 worth of service has been provided to the customer who paid advance amount of Kshs 4,000.

Required: Show the journal entries for each of the above transactions (10 marks)

show all explanations please and all calculations.

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