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Q1. Khaled started a delivery service, on October 1, 2022. The following transactions occurred during the month of Oct.
OCT
1
Shareholders invested SAR.50,000 cash in the business in exchange for ordinary shares.
2
Purchased a used van for deliveries for SAR 14,000. Khaled paid SAR 3,000 cash and signed a note for the remaining balance.
3
Paid SAR 1000 for office rent for the month.
5
Performed services worth SAR 4,000 and the bill was sent to the customer.
9
Declared and paid SAR 1,500 in cash dividends.
11
Receives SAR. 2,600 cash in advance of providing a delivery service to a customer.
12
Purchased supplies for SAR 2,300 on account.
15
Received a cash payment of SAR. 2,500 for services performed on Oct 5th.
17
Purchased copy machine for SAR. 900 on account.
20
Received a cash payment of SAR. 1,500 for services performed.
23
Made a cash payment of SAR. 1,500 on the note that signed on Oct 2nd.
26
Paid SAR. 1,800 for utilities.
28
Performed the services that related to the transaction made on Oct 11th.
29
Paid for the copy machine purchased on account on Oct 17th.
30
Paid SAR.3,500 for employee salaries.
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