Prepare journal entries 1 May Purchased plant on credit from J Smith for $1,000 plus sales tax

Prepare journal entries

Transcribed Image Text:

1 May Purchased plant on credit from J Smith for $1,000 plus sales tax at 17.5% 3 May Wrote off the following bad debts P Taylor M Morris Y Bhatti $500 $300 $100 4 May Sold office machinery for $800 to A Bell on credit. The machinery had cost $1,000 and had been depreciated by $400 1 May Purchased plant on credit from J Smith for $1,000 plus sales tax at 17.5% 3 May Wrote off the following bad debts P Taylor M Morris Y Bhatti $500 $300 $100 4 May Sold office machinery for $800 to A Bell on credit. The machinery had cost $1,000 and had been depreciated by $400

Answer rating: 100% (QA)

Journal entries for the transactions May 1 Accounts Payable J Smith 1175 1000 175 Sa... View the full answer