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Prepare the journal entries

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Reference no: EM133207328

These are the following transactions during the first month:

  1. December 1st - Jack invested £240,000 cash in the business.
  2. December 1st - Jack bought some shelving equipment £8,100 cash
  3. December 2nd- Jack made purchases on credit for £6000.
  4. December 3rd- Jack made sales on credit to Tom Smith for £800.
  5. December 5th- Jack withdrew £900 for personal use.
  6. December 7th - Jack paid wage expenses, £1000 in cash
  7. December 9th - Jack made further sales for £3,000 cash.
  8. December 15th - Jack made further purchases for cash for £2400
  9. December 28th - Jack paid telephone bill for £200 cash, and also advertising £130 cash
  10. December 30th - Tom Smith paid by cash £800.

Questions:

  1. Prepare the journal entries

Reference no: EM133207328

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