What is the double-entry for each of the following transactions and adjustments in Company X in the accounting year ending 31 December 2018: Required: (a) The sale of goods on 1 November 2018 on credit for £12,300. These goods cost £7,000 (b) Rent of £6,000 paid on 1 December 2018 for the three months ended 28 February 2019 (c) Electricity of £600 for the three months ended 31 January 2019 invoiced to Company X on 5 February 2019
What is the double-entry for each of the following transactions and adjustments in Company X in the accounting year ending 31 December 2018: Required: (a) The sale of goods on 1 November 2018 on credit for £12,300. These goods cost £7,000 (b) Rent of £6,000 paid on 1 December 2018 for the three months ended 28 February 2019 (c) Electricity of £600 for the three months ended 31 January 2019 invoiced to Company X on 5 February 2019
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
What is the double-entry for each of the following transactions and adjustments in
Company X in the accounting year ending 31 December 2018:
Required:
(a) The sale of goods on 1 November 2018 on credit for £12,300. These goods
cost £7,000
(b) Rent of £6,000 paid on 1 December 2018 for the three months ended 28
February 2019
(c) Electricity of £600 for the three months ended 31 January 2019 invoiced to
Company X on 5 February 2019
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