Prepare journal entries to record the following transactions that took place in the month of February, 2013: 01/02/2013: Bought office fittings on credit from Heritage Ltd...

      

Prepare journal entries to record the following transactions that took place in the month of February, 2013:
01/02/2013: Bought office fittings on credit from Heritage Ltd for Ksh 77,000.
05/02/2013: Goods costing Ksh 34,000 were taken out of the business without paying for them.
08/02/2013: Ksh 6,800 of the goods taken by us on 5th February is returned back into the business stock by us and no money is taken in exchange for the return.
13/02/2013: Johnson owes us Ksh 26,400 and he is unable to pay his debt so we agree to take some of his computers worth the same amount to cancel his debt.
17/02/2013: Paid Heritage Ltd Ksh 50,000 by cheque in partial settlement of the amount due.
25/02/2013: A debt owing to us by Hicks of Ksh 13,450 is written off as a bad debt.
28/02/2013: Bought equipment on credit from ART Ltd for Ksh 31,500.

  

Answers

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Kavungya answered the question on August 17, 2021 at 08:34

Next: Record the following entries in a journal for the year 2011. - On May 1^st bought a vehicle on credit from Kenya motors for Kshs 96,000. -...
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