24The following transactions occurredduring June 2020 for Rashid Est.June 1: Invested BD64,000 cash in thebusiness.June 8 Purchased supplies for BD3,250from Nader Est on credit.June 16: Performed services to customerSalem for BD9,200 on account.June 20: Paid balance due to creditor NaderEst.June 23: Received BD4,200 from customerSalem.June 27: Paid BD1,700 cash for electricity.June 30: Rashid withdrew BD2,400 cash forpersonal use.Required:Prepare the Journal entry for June 30transactions, like this example:Dr:….……………………‒‒‒‒BDCr:‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒BD

Journaling is the process of recording business transactions in accounting records. This activity…

Answered: The following transactions occurred…

The following transactions occurred during June 2020 for Rashid Est. June 1 Invested BD64,000 cash in the business. June 8 Purchased supplies for BD3,250 from Nader Est on credit.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

24
The following transactions occurred
during June 2020 for Rashid Est.
June 1: Invested BD64,000 cash in the
business.
June 8 Purchased supplies for BD3,250
from Nader Est on credit.
June 16: Performed services to customer
Salem for BD9,200 on account.
June 20: Paid balance due to creditor Nader
Est.
June 23: Received BD4,200 from customer
Salem.
June 27: Paid BD1,700 cash for electricity.
June 30: Rashid withdrew BD2,400 cash for
personal use.
Required:
Prepare the Journal entry for June 30
transactions, like this example:
Dr:
….……………………‒‒‒‒
BD
Cr:
‒‒‒‒‒‒‒‒‒‒‒‒
‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒
BD

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