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March 20 An amount of $1,678 was received today for a sale which was recorded in January. Date Particulars DR CR [ [ [ [ [ [ March 31 STPL borrowed $1,500,000 from the Southpac Bank today. The term of the loan is 10 years and interest is payable at 3.0%p.a. in arrears. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ [ April 1 Wages are paid monthly in arrears. The wages for March 20X3 of $102,560 were paid today. Date Particulars DR CR [ [ [ April 10 STPL offers community classes providing travel advice. The next class is in May 20X3 and 10 people each paid $45.00 for the next class. STPL initially recognises these amounts to a liability account. Date Particulars DR CR

March 20 An amount of $1,678 was received today for a sale which was recorded in January. Date Particulars DR CR [ [ [ [ [ [ March 31 STPL borrowed $1,500,000 from the Southpac Bank today. The term of the loan is 10 years and interest is payable at 3.0%p.a. in arrears. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ [ April 1 Wages are paid monthly in arrears. The wages for March 20X3 of $102,560 were paid today. Date Particulars DR CR [ [ [ April 10 STPL offers community classes providing travel advice. The next class is in May 20X3 and 10 people each paid $45.00 for the next class. STPL initially recognises these amounts to a liability account. Date Particulars DR CR

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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March 20 An amount of $1,678 was received today for a sale which was recorded in January. Date Particulars DR CR [ [ [ [ March 31 STPL borrowed $1,500,000 from the Southpac Bank today. The term of the loan is 10 years and interest is payable at 3.0%p.a. in arrears. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 1 Wages are paid monthly in arrears. The wages for March 20X3 of $102,560 were paid today. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 10 STPL offers community classes providing travel advice. The next class is in May 20X3 and 10 people each paid $45.00 for the next class. STPL initially recognises these amounts to a liability account. Date Particulars DR CR [ [ [ [ [
Transcribed Image Text:March 20 An amount of $1,678 was received today for a sale which was recorded in January. Date Particulars DR CR [ [ [ [ March 31 STPL borrowed $1,500,000 from the Southpac Bank today. The term of the loan is 10 years and interest is payable at 3.0%p.a. in arrears. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 1 Wages are paid monthly in arrears. The wages for March 20X3 of $102,560 were paid today. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 10 STPL offers community classes providing travel advice. The next class is in May 20X3 and 10 people each paid $45.00 for the next class. STPL initially recognises these amounts to a liability account. Date Particulars DR CR [ [ [ [ [
March 20 An amount of $1,678 was received today for a sale which was recorded in January. Date Particulars DR CR [ [ [ [ March 31 STPL borrowed $1,500,000 from the Southpac Bank today. The term of the loan is 10 years and interest is payable at 3.0%p.a. in arrears. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 1 Wages are paid monthly in arrears. The wages for March 20X3 of $102,560 were paid today. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 10 STPL offers community classes providing travel advice. The next class is in May 20X3 and 10 people each paid $45.00 for the next class. STPL initially recognises these amounts to a liability account. Date Particulars DR CR [ [ [ [ [
Transcribed Image Text:March 20 An amount of $1,678 was received today for a sale which was recorded in January. Date Particulars DR CR [ [ [ [ March 31 STPL borrowed $1,500,000 from the Southpac Bank today. The term of the loan is 10 years and interest is payable at 3.0%p.a. in arrears. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 1 Wages are paid monthly in arrears. The wages for March 20X3 of $102,560 were paid today. Date Particulars DR CR [ [ [ [ [ [ [ [ [ [ April 10 STPL offers community classes providing travel advice. The next class is in May 20X3 and 10 people each paid $45.00 for the next class. STPL initially recognises these amounts to a liability account. Date Particulars DR CR [ [ [ [ [
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