Mikes TV Solutions specialises in the installation of brand-new televisions that the client has purchased...
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Mikes TV Solutions specialises in the installation of brand-new televisions that the client has purchased elsewhere and requires a tradesperson to install the TV, wall mount if required, install an antenna, tune the TV and set the channels etc. The business provides other services such as repairing existing televisions, installing Pay TV dishes, setting up media rooms etc. Mike has a variety of clients including lucrative contracts with large builders and rental property managers with whom he has built up strong relationships. He offers them terms of 30 days. Mike submits his Business Activity Statement (BAS) monthly on an accruals basis and pays GST and PAYG Tax monthly. The next payment is due on May 31 st . The business is operated from a commercial shed which was purchased by Mike for $696,000 three years ago. To finance this purchase Mike took out a loan over a fifteen-year period at a variable interest rate
Post the journal entries to the General ledger (note subsidiary ledgers are not required).from the excel link below
