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28 Sep 2019
During March, the business engaged in the followingtransactions, All figures are GST (GST is15%)inclusive where applicable:
Journalise each transaction. Key journal entries bytransaction letter, using the format below:
General Journal
Transactions
Accounts
Debit ($)
Credit ($)
1 March: Borrowed $45,000 from the bank and signed a billpayable in the name of the business.
2 March: Paid cash of $40,000 to acquire a motor vehicle.
4 March: Performed service for a customer and received cash of$5,000.
10 March: Purchased supplies on credit, $300.
14 March: Performed customer service and earned revenue oncredit, $2,600.
During March, the business engaged in the followingtransactions, All figures are GST (GST is15%)inclusive where applicable:
Journalise each transaction. Key journal entries bytransaction letter, using the format below:
General Journal
Transactions | Accounts | Debit ($) | Credit ($) | |
| ||||
1 March: Borrowed $45,000 from the bank and signed a billpayable in the name of the business.
2 March: Paid cash of $40,000 to acquire a motor vehicle.
4 March: Performed service for a customer and received cash of$5,000.
10 March: Purchased supplies on credit, $300.
14 March: Performed customer service and earned revenue oncredit, $2,600.
Bunny GreenfelderLv2
28 Sep 2019