DATE TRANSACTION 1 Jan- 3 Jan- 5 Jan- 4 Jan - The business purchased RM7,500 of...

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DATE TRANSACTION 1 Jan- 3 Jan- 5 Jan- 4 Jan - The business purchased RM7,500 of inventory from supplier SDF on credit 6 Jan- 7 Jan- 7 Jan- 8 Jan Capital contributed by the owner of the business- the owner contributed RM 80,000 to the business as capital. 9 Jan- Credit purchase The business purchased RM30,000 for laptop equipment on credit from QWE supplier. The business purchased RM5,000 worth materials from on credit from FGH supplier Cash purchase Purchased RM6,000 worth of furniture from OPQ supplier in cash Credit sales sold RM9050 worth of inventory to customer A on credit Sold RM1900 worth of products to customer B on credit Sold RM5000 worth of products to customer C on credit Cash sale Cash sales of RM5000 10 Jan Purchases of non-current assets Paid rental of the premises amounted to RM8000 by cash. 11 Jan-Paid rental of machine amounted RM1,590 12 Jan Payments to suppliers 13 Jan Paid RM90,000 to QWE supplier payments to suppliers-Paid RM 4,800 from SDF supplier 14 Jan- Payments by receivables Received RM 40,000 from customer A 15 Jan- Received RM 5000 from customer B 17 Jan Transactions on payment of expenses paid RM 1,000 for rent 18 Jan-paid RM 7000 for utilities 19 Jan- Paid RM 890 for insurance 20 Jan Transaction on revenue received. Received RM 9,000 in revenue 21 Jan Transactions on liability Borrowed RM 11000 from the bank. 22 Jan- Paid RM 1,700 in interest on the loan 23 Jan- Drawing transaction (goods)- The owner withdrew RM 2,000 worth of products for personal use. 24 Jan- Drawing transaction (cash)- The owner withdrew RM 3,500 in cash for personal use. 25 Jan-For merchandising business - transaction on sales return- Returned RM4.200 worth of products to QWE supplier 26 Jan For merchandising business - transaction on purchases return- Returned RM7700 worth of products to FGH supplier Question: 1. Journalize business transactions in the relevant journals (sales journal, purchase journal, return inwards journal, return outwards journal, cash receipts journal, cash payments journal, and general journal). DATE TRANSACTION 1 Jan- 3 Jan- 5 Jan- 4 Jan - The business purchased RM7,500 of inventory from supplier SDF on credit 6 Jan- 7 Jan- 7 Jan- 8 Jan Capital contributed by the owner of the business- the owner contributed RM 80,000 to the business as capital. 9 Jan- Credit purchase The business purchased RM30,000 for laptop equipment on credit from QWE supplier. The business purchased RM5,000 worth materials from on credit from FGH supplier Cash purchase Purchased RM6,000 worth of furniture from OPQ supplier in cash Credit sales sold RM9050 worth of inventory to customer A on credit Sold RM1900 worth of products to customer B on credit Sold RM5000 worth of products to customer C on credit Cash sale Cash sales of RM5000 10 Jan Purchases of non-current assets Paid rental of the premises amounted to RM8000 by cash. 11 Jan-Paid rental of machine amounted RM1,590 12 Jan Payments to suppliers 13 Jan Paid RM90,000 to QWE supplier payments to suppliers-Paid RM 4,800 from SDF supplier 14 Jan- Payments by receivables Received RM 40,000 from customer A 15 Jan- Received RM 5000 from customer B 17 Jan Transactions on payment of expenses paid RM 1,000 for rent 18 Jan-paid RM 7000 for utilities 19 Jan- Paid RM 890 for insurance 20 Jan Transaction on revenue received. Received RM 9,000 in revenue 21 Jan Transactions on liability Borrowed RM 11000 from the bank. 22 Jan- Paid RM 1,700 in interest on the loan 23 Jan- Drawing transaction (goods)- The owner withdrew RM 2,000 worth of products for personal use. 24 Jan- Drawing transaction (cash)- The owner withdrew RM 3,500 in cash for personal use. 25 Jan-For merchandising business - transaction on sales return- Returned RM4.200 worth of products to QWE supplier 26 Jan For merchandising business - transaction on purchases return- Returned RM7700 worth of products to FGH supplier Question: 1. Journalize business transactions in the relevant journals (sales journal, purchase journal, return inwards journal, return outwards journal, cash receipts journal, cash payments journal, and general journal).

Answer rating: 100% (QA)

Answer Here are the journal entries for the given transactions Sales Journal Date Customer Sales 7 J... View the full answer