Journalize the following transactions by taking VAT into account. January 5,2022: Our firm purchased 236.000 merchandise...
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Journalize the following transactions by taking VAT into account. January 5,2022: Our firm purchased £236.000 merchandise including 18% VAT. Paid E100.000 cash and signed a promissory note for the remaining amount. January 10,2022: We sold Ł100.000 of merchandise for £150.000+18% VAT on account. January 15,2022: We sold £50.000 of merchandise for E82.600 including 18% VAT. The custormer paid Ł40.000 cash and gave a promissory note for the remaining amount. Journalize the following transactions by taking VAT into account. January 5,2022: Our firm purchased £236.000 merchandise including 18% VAT. Paid E100.000 cash and signed a promissory note for the remaining amount. January 10,2022: We sold Ł100.000 of merchandise for £150.000+18% VAT on account. January 15,2022: We sold £50.000 of merchandise for E82.600 including 18% VAT. The custormer paid Ł40.000 cash and gave a promissory note for the remaining amount.
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Answer rating: 100% (QA)
Date Description Debit Credit 2022 Inventory 200000 Jan VAT paid 36000 ... View the full answer
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
Posted Date:
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