Accounting Journal Entries
Lecture on Journal Entries: This is Part 2 of 2 videos. Please check each of the transactions very carefully. Hopefully this video will be helpful for you. In the second part few more transactions will be uploaded.
Practice: Financial Transactions for January 2019
01/01/19 Mr. Z invested 50,000 in the business
02/01/19 Purchase of factory machinery worth 20,000 by issuing a
Note payable after 3 months
03/01/19 Purchase of inventories for cash 5,000
10/01/19 Sale of finished goods for cash 4,000 and on credit 2,000
13/01/19 Receipt of cash 1,000 on credit sale
8/01/19 Logistics company has submitted a bill worth 250 for shipping expenses
23/01/19 Partial payment of 2,000 for inventory purchased on credit
28/01/19 Wages, utilities, and rent paid in cash 1,000, 400, 600 respectively
30/01/19 Payment of annual insurance premium 10,000
31/01/19 Mr. Z withdrew 1,500 cash from the business for personal use
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