source document of each transaction_
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following is the business transaction for August 2020:
August 1
Invested cash of RM15000 as a capital to start the business.
1
Rented office and dark room fittings for RM800 in cash for 2 months,
August and September.
2 Purchased photography supplies on credit worth RM1920 from
Moonlight Enterprise with a credit term of 3/10, n/30.
5 Finished a few job for customers and collected payment of RM150.
6 Received a credit memo amounting to RM120 form Moonlight
Enterprise for photography supplies returned due to damage.
8 Finished a photography assignment for Asher's wedding worth RM500
on credit with credit terms of 2/10, n/30.
11
Settled debt to Moonlight Enterprise in full.
16 Withdrew cash of RM200 for personal use.
17 Received full payment from Asher.
20 Completed a photography assignment for Haby Nursery worth RM700
with cash.
25 Received a deposit of RM500 from Women's Club for a booking of
photography assignment, which will be held on 20 October 2020
30 Paid wages to the shop assistant, RM400.
31 Received an electricity bill of RM300 for the month of August, but the
bill will only be paid September 2020.
a) Classify source document of each transaction.
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