The following transactions pertain to Getrude Wangari for 2018

Jan 1 Began operations by depositing Sh. 500,000 in a bank account in the name of the business, Getrude Enterprise

Mar 1 Paid three months’ rent deposit and six months’ rent for office space of Sh.90,000 and Sh.180,000 respectively.

Apr 1 Borrowed Sh. 400,000 cash from First national Bank. The note issued had a 14 percent annual rate of interest and matures in one year

Apr 14 Purchased Sh. 9,500 of supplies on account

June 1 Paid Sh.270,000 cash for a computer system. The computer system had a five year useful life and no salvage value.

June 30 Received Sh.260,000 cash in advance for services to be provided next year

July 5 Paid Sh.6,000 of the accounts payable from April 14

Aug 1 Billed a customer Sh.96,000 for services provided during July

Aug 8 Completed a job and received Sh. 45,000 cash for services rendered.

Sep 1 Paid employee salaries of Sh360,000 cash

Sep 1 Paid six months’ rent for the rented office space of Sh.180,000

Sep 9 Received Sh.105,000 cash from accounts receivable.

Oct 5 Billed customers Sh.340,000 for services rendered on account

Nov 2 Withdrew Sh.20,000 to meet personal expenses

The financial year of Getrude Enterprises ends on December 31

Required:

Journalise the above transactions. Use the following account titles: Cash, Accounts receivable, Supplies, Deposits, Office equipment, Accumulated depreciation; Office equipment, Accounts payable, Unearned fees, Note payable, Interest payable, Getrude capital, Getrude Withdrawals, Service revenue, Salaries expense, Rent expense, Interest expense

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Date Particulars Debit Credit 2017 Sh S... View the full answer