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ulah has the following transactions in the month of May, 2018. Show how these transactions can be recorded in his JOURNAL. srarres May. 1 Commefced business with a captal of AEDSO,000 with cash and Bank AED25, 000. May.2 Purchased supplies for AED 10,000 cash May.3 Purchased equipment on Credit for AED 10,000 from Modern Suppliers. May.5 Provided service for cash AED 15,000 May.7 Purchased Furniture for business use AED10,000 May.12 Borrowed a loan from ADCB AED 25,000 May.18 Purchased supplies for AED1,000, paid half cash and the remaining amount in May.20 Provided services to Smith on credit for AED 3,500 May. 22 Paid to Modern Suppliers AED 5,000 May.30 Advertising Bill amounting to AEDS00 was paid. credit
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Answer #1
Figures in AED
Date Accoumt Titles Debit Credit
May 1 Cash 55000
Bank 25000
Capital 80000
May 2 Purchase 10000
cash 10000
May 3 Equipment 10000
Modern Suppliers 10000
May 5 cash 15000
service revenue 15000
May 7 Furniture 10000
cash 10000
May 12 Bank 25000
Loan -ABCD 25000
May 18 Purchase 1000
cash 500
Trade Payable 500
May 20 Account receivables-smith 3500
Service revenue 3500
May 22 Modern Suppliers 5000
Cash 5000
May 30 Advertising Expenses 500
Cash 500
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