Reference no: EM133151545
Question - The following are the transactions of Tealife Enterprise during the month of August 2019:
August 2 Sold goods worth RM8,000 to Sam. Sam promised that he will pay 2 weeks later.
August 5 Purchased equipment for RM50,000, paying RM20,000 in cash and the remainder on credit.
August 12 Purchased RM2,500 worth of goods from J aya Enterprise on credit.
August 16 Received RM8,000 in cash from Sam on goods sold on 2 October.
August 20 Paid Susan RMl,500 by cash in settlement of an amount owed to her.
August 27 Paid wages of RM6,250 by cheque.
August 28 Received cash of RN17,150 from Thor in settlement of an outstanding debt.
August 29 Owner withdrew RM2,000 cash for his personal use.
Required - Prepare the journal entries for the above transactions. Narratives are not required.