Cik Mimi, a sole trader started her business on 1 October 2018 under the name of MM Enterprise. She brought into the business a used van valued at RM7,000 and cash from her own saving amounting to RM60,000. The business is involved in trading of shoes. The following transactions relate to MM Enterprise for the month of October 2018.
Date Transactions
October 2 Bought furniture and fittings worth RM3,000 on credit from Tony Gallery for business use.
3 Purchased goods from AZ factory worth RM15,000 by cheque.
4 Cik Mimi took RM2,000 cash for personal purposes.
7 Sold goods to Mia RM800 on credit.
8 Took a loan from bank RM20,000.
11 Mia returned defectives goods amounting to RM80 due to wrong specification.
12 Cash sales of goods worth RM5,000.
16 Paid rental expenses RM9,000 by cash.
19 The owner took a pair of shoes at cost of RM700 and gave it as a present to her brother.
21 Paid Tony Gallery by cheque for the amount owing.
23 Purchased a computer worth RM4,000 on credit from GG Computer Center.
24 Paid RM970 cash to Tenaga Nasional Berhad for electricity expense.
26 Returned damaged goods worth RM1,350 to AZ factory.
27 Paid advertising on credit worth RM400 from Sally Sdn. Bhd.
PREPARE SPECIALIZED JOURNAL ( BOOKS OF PRIME ENTRY ) BASED ON THE TRANSACTIONS
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