Reference no: EM132560171

Question - Transactions for Sydney Consultants Ltd for the month of February 2020 are presented below:

Feb 2. Shareholders invested $280,000 in exchange for shares in the business.

Feb 3. Paid office rent of $4,800 for six months

Feb 3. Purchased vehicle costing $25,000 on account.

Feb 6. Purchased equipment costing $11,000. $6,000 was paid in cash and the remainder on credit.

Feb 14. Paid $600 advertising costs.

Feb 15. Paid $20,000 to the creditors.

Feb 20. Invoiced clients $1,800 for services performed

Feb 23. Received $4,000 advance from a client for services that will be performed next month.

Feb 28. Paid staff $2,200 salary for the month.

Feb 31. Received $700 cash from client invoiced on 20 Feb.

Required - Journalise each transaction. Narrations are required.