Prepare the journal entries using only General Journals to show the double entries of the following transactions of Gaya Trading in the month of March:   1 Started business with RM59,000 in the bank and RM1,000 cash. 2 Bought stationery by cheque RM750. 3 Bought goods on credit from Smart Warehouse RM10,100. 4 Sold goods for cash RM3,400.

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
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Chapter5: Cash Control Systems
Section: Chapter Questions
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Prepare the journal entries using only General Journals to show the double entries of the following transactions of Gaya Trading in the month of March:

 

1

Started business with RM59,000 in the bank and RM1,000 cash.

2

Bought stationery by cheque RM750.

3

Bought goods on credit from Smart Warehouse RM10,100.

4

Sold goods for cash RM3,400.

5

Paid insurance by cash RM290.

7

Bought a computer on credit from Tech Trader RM4,000.

8

Paid miscellaneous expenses by cash RM50.

10

Sold goods on credit RM6,300 to Bina Construction.

14

Paid wages by cash RM350.

17

Paid rent by cheque RM2,250.

20

Received cheque RM4,000 from Bina Construction.

21

Paid Tech Trader by cheque RM4,000.

23

Bought goods on credit from Savemart RM2,500.

25

Sold goods on credit to Flora Trader RM6,450.

31

Paid Savemart by cheque RM1,250.

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