Ali decided to start a business. He would like to request your help on the preparation...

 

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Ali decided to start a business. He would like to request your help on the preparation of cashbook. 1 Jan Start the business with a cash investment of RM5,000 and bank investment of RM 10,000 2 Jan Received RM1,500 in cash sales. 4 Jan Paid RM800 in cash for rent expense. 7 Jan Purchased office supplies for RM200 in cash. 10 Jan Received RM2,000 cash from a customer as an accounts receivable payment. 12 Jan Deposited RM2,500 cash into the bank account. 15 Jan Paid a supplier RM700 in cash and received a 5% discount on the purchase for early payment. Required: a) Prepare a cashbook with correct format to record the following transactions. Ali decided to start a business. He would like to request your help on the preparation of cashbook. 1 Jan Start the business with a cash investment of RM5,000 and bank investment of RM 10,000 2 Jan Received RM1,500 in cash sales. 4 Jan Paid RM800 in cash for rent expense. 7 Jan Purchased office supplies for RM200 in cash. 10 Jan Received RM2,000 cash from a customer as an accounts receivable payment. 12 Jan Deposited RM2,500 cash into the bank account. 15 Jan Paid a supplier RM700 in cash and received a 5% discount on the purchase for early payment. Required: a) Prepare a cashbook with correct format to record the following transactions.

Answer rating: 100% (QA)

To prepare a cashbook to record the given transactions you can use a simple format with columns for ... View the full answer