Peter Walker, the owner of the business, had the following transactions in October. Oct 1...
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Accounting
Peter Walker, the owner of the business, had the following transactions in October.
Oct 1 Walker invested in the company by a cheque of $30,000.
2 Made purchases of a machine for $10,000 on credit.
9 Completed an $25,000 consulting services job for a client, who will pay in 30 days.
10 The company paid $2,000 rent for Walkers own house.
11 Walker withdrew $6,500 cash from the business for personal use.
20 Paid in full for the purchase of machine on Oct 2.
20 The company borrowed a bank loan $10,000.
Required: Prepare journal entries for the above
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