Show the journal and ledger entries in respect of the following: a. On 20 April 20X0 purchased
Question:
Show the journal and ledger entries in respect of the following:
a. On 20 April 20X0 purchased on credit a machine (not for resale) from Black Ltd at a cost of £5,300.
b. On 23 April 20X0 sold on credit a motor vehicle for £3,600 to White Ltd. This had previously been used to deliver goods sold.
c. On 26 April 20X0 purchased some shop fittings for £480 on credit from Grey Ltd. These were not for resale.
d. On 28 April 20X0 sold on credit to Yellow Ltd for £270 a typewriter that had previously been used in the sales office.
Step by Step Answer:
Showing the journal and ledger entries a On 20 April 20X0 purchased on ...View the full answer
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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