(12 Marks) On 1 May 2021, Rebecca start up a business trading home appliances. She deposits...

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(12 Marks) On 1 May 2021, Rebecca start up a business trading home appliances. She deposits £14,000 of her own money into a business bank account (transaction A). In her first month of trading, the following transactions occurred. Transaction B C D E F G H I J K L Description Paid rent of warehouse for May 2021 Purchased inventories (refrigerators, dishwashers) on credit Loan from Halifax bank Purchase of warehouse furniture (for cash) Sales of refrigerators: cash Sales of dishwashers : on credit Payment for accounts payable (discount received £200) Receipt from accounts receivables (discount allowed £100) Interest on bank loan (accrued) Salaries and wages (cash paid) Paid insurance premium £ 7,000 10,000 2,000 4,000 8,000 9,000 9,800 8,900 500 1,000 200 Requirement Show all of the transactions (A - L) by means of journal entries (both debit and credit). (12 Marks) On 1 May 2021, Rebecca start up a business trading home appliances. She deposits £14,000 of her own money into a business bank account (transaction A). In her first month of trading, the following transactions occurred. Transaction B C D E F G H I J K L Description Paid rent of warehouse for May 2021 Purchased inventories (refrigerators, dishwashers) on credit Loan from Halifax bank Purchase of warehouse furniture (for cash) Sales of refrigerators: cash Sales of dishwashers : on credit Payment for accounts payable (discount received £200) Receipt from accounts receivables (discount allowed £100) Interest on bank loan (accrued) Salaries and wages (cash paid) Paid insurance premium £ 7,000 10,000 2,000 4,000 8,000 9,000 9,800 8,900 500 1,000 200 Requirement Show all of the transactions (A - L) by means of journal entries (both debit and credit).

Answer rating: 100% (QA)

Journal Figures in Date Particulars of Business Transaction Folio Debit Credit Bank Ac Dr 14000 To Capital Ac 14000 Being capital invested by Rebecca in her business Warehouse Rent AC Dr 7000 To Bank ... View the full answer