Required: post entries to the relevant accounts in the general ledger and balance the accounts: On 1/1/2023, Jassim started his commercial business with a capital of $3,735,000 distributed over the following assets: 1500,000 cash, 700,000 cars, 350,000 goods, 1,185,000 bank, If you know that the following operations took place during January 2023: 1. On 1/3 he bought a building for $950,000 by check, and the costs of registering it amounted to $5200 and the expenses of preparing it for use amounted to $43000, which I paid in cash. 2. On 9/1 he sold his goods on account to Mahmoud for $280,000. 3. On 1/10, he bought goods from Daoud for $324,000, he paid half of them in cash, and wrote the rest as a promissory note due after two months. He also paid the costs of transporting the purchased goods, amounting to $1,800. 4. On 1/12 he sold his goods to Al-Tafa'il stores for the amount of $198,000 in cash, of which $65,000 was deposited in the bank. 5. On 1/15, he sold the most valuable car for $485,000 in cash, knowing that its book value was $514,000, and he withdrew a quarter of the amount for his personal use. 6. On 21/1, Mahmoud paid $95,000 in cash. 7. On 24/1 he bought goods from Sultan for $186,000 on account with a 10% commercial discount. 8. On 25/1, goods worth $12,100 were returned to Sultan because they did not meet the agreed specifications. 9. On 30/1, pay the following expenses in cash: $2800 water and electricity expenses, $21000 salaries and wages. THE QUESTION: Posting entries to the relevant accounts in the general ledger and balancing the accounts. please avoid images in answers thank you
Required:
On 1/1/2023, Jassim started his commercial business with a capital of $3,735,000 distributed over the following assets:
1500,000 cash, 700,000 cars, 350,000 goods, 1,185,000 bank,
If you know that the following operations took place during January 2023:
1. On 1/3 he bought a building for $950,000 by check, and the costs of registering it amounted to $5200 and the expenses of preparing it for use amounted to $43000, which I paid in cash.
2. On 9/1 he sold his goods on account to Mahmoud for $280,000.
3. On 1/10, he bought goods from Daoud for $324,000, he paid half of them in cash, and wrote the rest as a promissory note due after two months. He also paid the costs of transporting the purchased goods, amounting to $1,800.
4. On 1/12 he sold his goods to Al-Tafa'il stores for the amount of $198,000 in cash, of which $65,000 was deposited in the bank.
5. On 1/15, he sold the most valuable car for $485,000 in cash, knowing that its book value was $514,000, and he withdrew a quarter of the amount for his personal use.
6. On 21/1, Mahmoud paid $95,000 in cash.
7. On 24/1 he bought goods from Sultan for $186,000 on account with a 10% commercial discount.
8. On 25/1, goods worth $12,100 were returned to Sultan because they did not meet the agreed specifications.
9. On 30/1, pay the following expenses in cash: $2800 water and electricity expenses, $21000 salaries and wages.
THE QUESTION: Posting entries to the relevant accounts in the general ledger and balancing the accounts.
please avoid images in answers thank you
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