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(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(a) Describe the detail of the transaction being performed in the following screen.

(b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

Pay from Account: 1-1110 ANZ Bank Balance: $1,312,672.80 |Tax Indusive Card: O Cheque No.: 57 Date: 17/07/2018 $1,950.00 Payee: Amount: One Thousand Nine Hundred and Fifty Dollars and 0 Cents Memo: Petty cash reimursement Computer World Australia Pty Ltd Acct No. Name Amount Job Memo Таx Petty Cash $1,950.00 |N-T 1-1130 Total Allocated: $1,950.00 Тах: $0.00 OCheque Already Printed Total Paid: $1,950.00 Remittance Advice Delivery Status: $0.00 To be Printed Out of Balance: Save as Recurring|O Use Recurring
Transcribed Image Text:Pay from Account: 1-1110 ANZ Bank Balance: $1,312,672.80 |Tax Indusive Card: O Cheque No.: 57 Date: 17/07/2018 $1,950.00 Payee: Amount: One Thousand Nine Hundred and Fifty Dollars and 0 Cents Memo: Petty cash reimursement Computer World Australia Pty Ltd Acct No. Name Amount Job Memo Таx Petty Cash $1,950.00 |N-T 1-1130 Total Allocated: $1,950.00 Тах: $0.00 OCheque Already Printed Total Paid: $1,950.00 Remittance Advice Delivery Status: $0.00 To be Printed Out of Balance: Save as Recurring|O Use Recurring
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