Our company operating in the food sector rented the van belonging to the business on 01.12.2021 for 2 months with a monthly rental price of 3.000 TL + 10% VAT. Total rental fee and VAT amount were collected in cash. Record the relevant journal (daily book).

Our company operating in the food sector rented the van belonging to the business on 01.12.2021 for 2 months with a monthly rental price of 3.000 TL + 10% VAT. Total rental fee and VAT amount were collected in cash. Record the relevant journal (daily book).

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5EB: Review the following transactions and prepare any necessary journal entries for Lands Inc. A. On...

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7) Our company operating in the food sector rented the van belonging to the business on 01.12.2021 for 2 months with a monthly rental price of 3.000 TL + 10% VAT. Total rental fee and VAT amount were collected in cash. Record the relevant journal (daily book).

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Please pass the necessary journal entries attached in the image