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Prepare general journal entries to record the transactions

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Reference no: EM133104847

Question - The following information is available about Office Solution's accounting transactions in March 2019.

March 2 Borrowed $180,000 from a bank.

March 3 Purchased supplies on credit from a supplier A/K, n/30, $12,000.

March 5 Paid advertising for the next 12 months $3,500.

March 10 Paid the supplier A/K the full amount for supplies purchased on 3 March.

March 16 Owner withdrew $5,000 for personal use.

Required - Prepare general journal entries to record the transactions for the entity. Ignore GST.

Reference no: EM133104847

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