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Show the ledger accounts required to record the transactions

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Reference no: EM132522664

John Phiri's business has an accounting year end of 31 December 2018. He rents factory space at a rental cost of K5,000 per quarter, payable in arrears.

During the year to 31 December 2018 his cash payments of rent have been as follows:

  1. 31 March (for the quarter to 31 March 2018) K5,000
  2. 29 June (for the quarter to 30 June 2018) K5,000
  3. 2 October (for the quarter to 30 September 2018) K5,000

The final payment due on 31 December 2018 for the quarter to that date was not paid until 4 January 2019.

Required:

Question 1: Show the ledger accounts required to record the above transactions.

Reference no: EM132522664

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