Business Transactions Assignment
February 25th, 2020
On 1 January 2019, Syafini started a business, Smart Trading, which sells sports equipment. She brought into the business a used car valued at RM48,000 and cash RM200,000.
The business transactions in January 2018 for Smart Trading were as follows:
| Date | Descriptions |
| Jan 2 | Opened a bank account with Bumi Bank and transferred cash RM180,000 into the bank account |
| Jan 3 | Paid rent RM3,200 by cheque |
| Jan 4 | Paid RM11,200 by cheque for the purchase of office equipment from CM Center |
| Jan 5 | Received invoices from
Ali Sdn. Bhd RM16,000 (received a trade of discount 2%) Jaya Trading RM18,000 (received a trade discount of 3%) |
| Jan 6 | Syafini withdrew cash RM2,400 for her own use |
| Jan 7 | Cash sale of RM2600 was credited into the bank |
| Jan 10 | Received cash RM60 from the customer for repairing sports equipment |
| Jan 13 | I received a credit note from Ali Sdn. Bhd for goods returned to the amount of RM1200. The goods were bought by Ali Sdn. Bhd on Jan 5, 2018 |
| Jan 14 | Credit sales to Marsitah RM4,800 |
| Jan 15 | Purchased a car by credit from Protono Motor costing RM40,000 |
| Jan 16 | Syafini took a table tennis set which cost RM800 for her personal use |
| Jan 17 | Received a cheque from Marsitah to settle her account and she was given 2% cash discount |
| Jan 20 | Paid office expenses by cash RM500 |
| Jan 30 | Cheque received from Marsitah on 17 Jan was returned due to insufficient funds |
Required:
Record the transaction into first book entry (without posting to the ledger) .
