The following transaction incurred in Guarantee section in the main branch of Petra bank on Monday 15/5/2006. 1. Guarantee of JD 80000 issued on behalf of Nile Co. for there months (2% commission, 25% collateral record in account). 2. Guarantee of JD 90000 issued on behalf of Eduetion Co. for there months (2% commission, 100% collateral by cash). 3. Guarantee of JD 56000 issued on behalf of Sar Co. for three months (2% commission, 25% collateral on credit account). 4. Guarantee of JD 75000 ended and delated, this guarantee belongs to Maher Co. with collateral 50%. 5- The bank paid on behalf of its customer (Khaled Co.) a guarantee totaled JD 55000; its collateral was 30% the requirement is the entries
The following transaction incurred in Guarantee section in the main branch of Petra bank on Monday 15/5/2006. 1. Guarantee of JD 80000 issued on behalf of Nile Co. for there months (2% commission, 25% collateral record in account). 2. Guarantee of JD 90000 issued on behalf of Eduetion Co. for there months (2% commission, 100% collateral by cash). 3. Guarantee of JD 56000 issued on behalf of Sar Co. for three months (2% commission, 25% collateral on credit account). 4. Guarantee of JD 75000 ended and delated, this guarantee belongs to Maher Co. with collateral 50%. 5- The bank paid on behalf of its customer (Khaled Co.) a guarantee totaled JD 55000; its collateral was 30% the requirement is the entries
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The following transaction incurred in Guarantee section
in the main branch of Petra bank on Monday 15/5/2006.
1. Guarantee of JD 80000 issued on behalf of Nile Co. for
there months (2% commission, 25% collateral record
in account).
2. Guarantee of JD 90000 issued on behalf of Eduetion
Co. for there months (2% commission, 100%
collateral by cash).
3. Guarantee of JD 56000 issued on behalf of Sar Co. for
three months (2% commission, 25% collateral on
credit account).
4. Guarantee of JD 75000 ended and delated, this
guarantee belongs to Maher Co. with collateral 50%.
5- The bank paid on behalf of its customer (Khaled Co.) a
guarantee totaled JD 55000; its collateral was 30%
the requirement is the entries
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