Selected transactions for B. Madar SE, an interior decorating firm, in its first month of business, are shown below. Jan. 2 Invested SAR15, 000 cash in the business in exchange for ordinary shares. Jan 3 Purchased used car for SAR 7,000 cash for use in the business. Jan 9 Purchased supplies on account for SAR 500. Jan11 SAR 1,800 of services were performed and billed. Jan 16 Paid SAR200 cash for advertising. Jan20 Received SAR700 cash from customers billed on January 11. Jan 23 Paid creditor SAR300 cash on balance owed. Jan 28 Declared and paid a SAR1, 000 cash dividend. Instructions Journalize the transactions on page J1 of the journal. (Omit explanations.) (b) Post the transactions in the ledgers.
Selected transactions for B. Madar SE, an interior decorating firm, in its first month of business, are shown below.
Jan. 2 Invested SAR15, 000 cash in the business in exchange for ordinary shares.
Jan 3 Purchased used car for SAR 7,000 cash for use in the business.
Jan 9 Purchased supplies on account for SAR 500.
Jan11 SAR 1,800 of services were performed and billed.
Jan 16 Paid SAR200 cash for advertising.
Jan20 Received SAR700 cash from customers billed on January 11.
Jan 23 Paid creditor SAR300 cash on balance owed.
Jan 28 Declared and paid a SAR1, 000 cash dividend.
Instructions
- Journalize the transactions on page J1 of the journal. (Omit explanations.)
(b) Post the transactions in the ledgers.
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