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Make journal entry for expense recognition under cash basis

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Reference no: EM132756475

Problem 1: Journal entry for Expense recognition under cash basis and accrual basis

  • aimee paid 60,000 for 1 year rental
  • aimee purchases 5,000 worth of supplies on account
  • aimee paid 12,000 for 1 year advertisement in the community website
  • aimee received electricity bill amounting to 9,000
  • salaries due amounting to 30,000. Payment to be made on the 5th day of the following month

Reference no: EM132756475

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