It's on the 20th of July. You are keen to record the wheel aligner you paid for online with your private credit card. You will use a manual journal to record this asset purchase.

Tutorial: Add or edit a single manual journal.

Manual Journal:

1. Narration: Wheel aligner paid for by personal credit card
2. Date:20 July 2019
3. Tick Show journal on cash basis reports and Default narration to journal line description.
4. Auto Reversing N/A
5. Amounts are Tax Exclusive
6. Gross amount(incl GST) paid for aligner: $22,549.90
7. Two lines: 710 - Workshop Equipment, 881 - Owner A Funds Introduced
8. For marking purposes, make sure your manual journal narration is: Wheel aligner paid for by personal credit card

What should be the debit amount and credit amount?

Answer rating: 100% (QA)

According to the sum we made credit purchase indicating payment on future b... View the full answer