Journalise the following business transactions in general journal form. Identify each transaction by number.

1. Received an invoice of telephone expenses of $350 which will be paid next month.

2. Purchased office equipment for $55,000, paying $20,000 in cash and remaining amount purchased on credit.

3. Paid $5,000 rent for the month.

4. Recorded $15,000 of services provided on account.

5. Paid wages of $10,500. 6. Received $9,000 in cash for services provided.

7. Collected $5,000 from customers on account

Answer rating: 100% (QA)

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