Choose a local business Nature of the business, products Forms of business Make atleast 10 unique transactions Journalize and integrate sa revenue/expenditure cycle
- Choose a local business
- Nature of the business, products
- Forms of business
- Make atleast 10 unique transactions
- Journalize and integrate sa revenue/expenditure cycle
Step by step
Solved in 6 steps
Unique Transactions:
1. Transaction 1: On June 1, 2023, Green Thumb Garden Center purchases a shipment of plants and flowers from a local nursery for $2,000, paid in cash.
2. Transaction 2: On June 5, 2023, a customer purchases a collection of garden tools and supplies for $150, paid by credit card.
3. Transaction 3: On June 10, 2023, Green Thumb Garden Center provides landscaping services to a residential client. The service fee amounts to $500, which will be invoiced to the client.
4. Transaction 4: On June 12, 2023, the business pays $500 in rent for the retail space.
5. Transaction 5: On June 15, 2023, Green Thumb Garden Center sells a variety of potted plants to a customer for $300, received in cash.
6. Transaction 6: On June 18, 2023, the business purchases gardening tools and supplies from a wholesaler for $800, to be paid within 30 days.
7. Transaction 7: On June 20, 2023, a customer returns a defective item (a gardening tool) and receives a refund of $50.
8. Transaction 8: On June 22, 2023, Green Thumb Garden Center pays $150 to a local advertising company for a print advertisement promoting their business.
9. Transaction 9: On June 25, 2023, the business receives an invoice from a supplier for $1,000 for a recent purchase of plants, to be paid within 15 days.
10. Transaction 10: On June 28, 2023, Green Thumb Garden Center purchases office supplies for $50, paid in cash.
Question: Based on the unique transactions above, make a
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