Create a source document to represent the following transaction: You purchased $5600 of equipment from Baskin Ltd. You paid with a cheque.

Remember to include (5 Marks):

Your company name and information (address, telephone, etc.)

The company name you bought from or sold to

Your company logo

The amount

The due date (if needed)

A signature (if needed)

Todays date

A number for the source document

All details of the transaction.

1. Record this transaction as a journal entry for your company (3)

2. What type of source document should you create? Explain using full sentences (1)

3. What should you do with this source document after you have recorded the transaction (1)