Question

QUESTION

Casey launched a new business, KC Hairven (KCH) that began operations on 1 June. The following transactions were completed by the company during the first month:

June 1 Casey invested RM15,000 cash in the business, KC Hairven (KCH).

1 Hired 2 assistants for KCH with salary RM1,800 which will be paid on 25th every month.

2 Purchased equipment RM2,400 on credit from SLM Machine

5 Performed service to customers and received RM650, by cash.

11 Performed RM600 cutting service for IKBN students, on account.

15 Purchased second hand van from Second Auto Marketing at the cost of RM30,000. KCH paid Second Auto Marketing RM3,000 by cash and the balance of RM27,000 by loan from MyBank.

20 Purchased supplies from Merit Supplies for RM1,000, on account.

25 Paid RM1,800 for assistant salary and RM700 for space rent by cash.

27 Received RM300 cash from IKBN as part of payment for transaction on 11 June.

Required:

Journalize the above transection?

Answer 1