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Ms. Amalia has set up trading on 1 January 2023 by paying RM25,000 into a...

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Accounting

Ms. Amalia has set up trading on 1 January 2023 by paying RM25,000 into a business bank account, a unit of old car worth RM15,000 and RM700 into the petty cash box. Her other transactions during the first month are as follow:

  1. Purchase on credit for RM4,000 from Suba Ltd.

  1. Purchase by cash of RM600.

  1. Sales for cash of RM550.

  1. Sales on credit for RM3,000 to Cuves Ltd.

  1. Payment for salaries through banking system of RM2,500.

  1. Payment for stationery by cash of RM250.

  1. Withdrawal of RM350 in cash by the owner for his private use.

  1. Receipt of a loan of RM2,300 from the bank.

  1. Cheque payments to creditor after receiving a discount of 2% from supplier, Suba Ltd.

  1. The owner gave a discount of 1.5% to trade debtor, Cuves Ltd and Cuves Ltd. sent a cheque to pay for the balance of payment.

Required:

(a) Write up these transactions for the period in journal entries.

(5 marks)

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