Things to remember -The business began on August 1, 2018, and has selected a July 31, 2019, fiscal year-end. -Journalize Accounts Payable and Receivables in two separate steps. -Tax on Insurance (charged at 8%/0 is non refundable. Create journal entries for sage 50. ? 1. Negotiated a 5-year bank loan of $40000 at an annual interest rate of 9.50% with Loyal Bank. The money was deposited in the bank account today. 2.Received invoice 402 for $1200 plus HST from Captain Insurance, for a one-year business Insurance Policy, commencing Aug 1, 2018. Issued cheque #1001 to pay this invoice. 3.Purchased -office furniture and fixtures for $2500. -computer equipment for $3500. -from the business place, invoice 6488 was for $6000 plus HST paid cheque #1002
Things to remember
-The business began on August 1, 2018, and has selected a July 31, 2019, fiscal year-end.
-Journalize Accounts Payable and Receivables in two separate steps.
-Tax on Insurance (charged at 8%/0 is non refundable.
Create
1. Negotiated a 5-year bank loan of $40000 at an annual interest rate of 9.50% with Loyal Bank. The money was deposited in the bank account today.
2.Received invoice 402 for $1200 plus HST from Captain Insurance, for a one-year business Insurance Policy, commencing Aug 1, 2018. Issued cheque #1001 to pay this invoice.
3.Purchased
-office furniture and fixtures for $2500.
-computer equipment for $3500.
-from the business place, invoice 6488 was for $6000 plus HST paid cheque #1002
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