Samantha started her Creative Design Business on May 1, 2023. Below are the transactions that occurred...

 

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Samantha started her Creative Design Business on May 1, 2023. Below are the transactions that occurred in May. Date May 1 3 5 7 10 15 18 20 25 30 Transactions Invest cash of RM30,000 and computer equipment worth RM10,000 into the business. Paid office rent for a period of 6 months starting in May. The monthly rental rate is RM1,500. Appoint two full-time graphic designers who are paid a salary of RM3,000 per month each. Purchased office supplies worth RM600 on credit. Purchased a printer costs RM4,000. A total of RM1,500 is paid in cash and the balance is paid in instalments. Received an advance of RM6,000 from the client for services to be provided in June 2023. Send an invoice to the customer for the services rendered amounting to RM7,000. Settle account payable for the purchase of office supplies on May 7. Provide services in cash RM2,000. Paid the utility bill of RM400 and the graphic designer's salary for the month of May. + + Journalize the above transactions Samantha started her Creative Design Business on May 1, 2023. Below are the transactions that occurred in May. Date May 1 3 5 7 10 15 18 20 25 30 Transactions Invest cash of RM30,000 and computer equipment worth RM10,000 into the business. Paid office rent for a period of 6 months starting in May. The monthly rental rate is RM1,500. Appoint two full-time graphic designers who are paid a salary of RM3,000 per month each. Purchased office supplies worth RM600 on credit. Purchased a printer costs RM4,000. A total of RM1,500 is paid in cash and the balance is paid in instalments. Received an advance of RM6,000 from the client for services to be provided in June 2023. Send an invoice to the customer for the services rendered amounting to RM7,000. Settle account payable for the purchase of office supplies on May 7. Provide services in cash RM2,000. Paid the utility bill of RM400 and the graphic designer's salary for the month of May. + + Journalize the above transactions

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Here are the journal entries to record the transactions in May 2023 May 1 Equipment 10000 Cash 10000 ... View the full answer