Sold merchandise $32,000 on credit to Bongo Natty Bought merchandise $25,000 on credit from Kings World...

 

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Sold merchandise $32,000 on credit to Bongo Natty Bought merchandise $25,000 on credit from Kings World Paid for office expenses $7,000 by cheque May 21 May 22 May 25 May 26 Paid wages $35,000 by cheque May 27 Received $20,000 by cheque from N Bell May 28 Took merchandise amounting to $15,000 for personal use Enter the following transactions in the relevant Journal and then post to the relevant ledger (t-accounts), and balance off these accounts. Sold merchandise $32,000 on credit to Bongo Natty Bought merchandise $25,000 on credit from Kings World Paid for office expenses $7,000 by cheque May 21 May 22 May 25 May 26 Paid wages $35,000 by cheque May 27 Received $20,000 by cheque from N Bell May 28 Took merchandise amounting to $15,000 for personal use Enter the following transactions in the relevant Journal and then post to the relevant ledger (t-accounts), and balance off these accounts.

Answer rating: 100% (QA)

Lets record the given transactions in the relevant journal and then post them to the appropriate led... View the full answer