Question 1 Below are the transactions that Rose Sdn. Bhd. incurred during the month of January 2020. Write in the appropriate boxes the title of the accounts to be debited and credited together with the amount. Accounting Transactions Accounts to be debited Accounts to be credited

Example: Started a business with RM50,000 cash in bank as capital. Bank RM50,000 Capital RM50,000

1. Started a business with RM10,000 cash in hand, RM30,000 in bank and a bank loan worth RM50,000.

2. Bought a computer worth RM5,500 on credit from Hi-Tech Supply.

3. Cash sales of goods worth RM2,000 to Sunflower Enterprise.

4. Purchased goods on credit from Lily Trading worth RM48,000. Received a discount of 10% from Lily Trading.

5. Sold goods on credit to Morning Glory Company worth RM12,000.

6. Morning Glory Company returned goods worth RM900.

7. Cash sales of RM2,000 to Orchid Sdn. Bhd.

8. Bought a van worth RM70,000 from Jasmine Motors. Paid a deposit of RM10,000 by cheque and agreed to pay the balance by installment for the period of 5 years to Jasmine Motors.

9. The owner took cash worth RM10,000 for his personal house rental.

10. Paid salary RM5,000 and advertisement RM2,000 by cheque. (20 Marks)