2.2 Give examples of financial transactions took place in an electronics manufacturing concern: a. Commenced business with cash (1 transaction) b. An asset purchased for cash (1 transaction) c. Goods sold and the cheque received (1 transaction) d. Materials purchased on credit (1 transaction) e. Expenses paid by bank (1 transaction) f. Goods sold on credit (1 transaction) g. Payment made to creditors by bank (1 transaction) h. Cash received from debtors (1 transaction)
2.2 Give examples of financial transactions took place in an electronics manufacturing concern: a. Commenced business with cash (1 transaction) b. An asset purchased for cash (1 transaction) c. Goods sold and the cheque received (1 transaction) d. Materials purchased on credit (1 transaction) e. Expenses paid by bank (1 transaction) f. Goods sold on credit (1 transaction) g. Payment made to creditors by bank (1 transaction) h. Cash received from debtors (1 transaction)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
2.2 Give examples of financial transactions took place in an electronics manufacturing concern:
a. Commenced business with cash (1 transaction)
b. An asset purchased for cash (1 transaction)
c. Goods sold and the cheque received (1 transaction)
d. Materials purchased on credit (1 transaction)
e. Expenses paid by bank (1 transaction)
f. Goods sold on credit (1 transaction)
g. Payment made to creditors by bank (1 transaction)
h. Cash received from debtors (1 transaction)
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A journal is a primary book of entry of financial transactions that are measurable in terms of money.
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