Recording Transactions in General Journal.
Shalini Arora set up Ace Marketing Ltd. to provide consultancy. During a short period, the company completed the following transactions:
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(a) (b) (c) (d) (e) (f) (g) (h) (i) |
Shalini invested cash in Ace’s share capital, ` 20,000. Billed customers for services provided, ` 5,600. Paid assistant’s salary, ` 600. Bought computer on credit, ` 4,400. Received cash from customers billed earlier, ` 1,350. Took a bank loan, ` 5,000. Paid creditors, ` 2,000. Received fee for professional services, ` 8,250. Paid dividends, ` 1,100. |
Prepare journal entries to record the transactions.