Based on the scenario below complete: (i) any five journal entries, & (ii) draw up T- accounts and post the entries appropriately. A. July 1: Your friend has started a bike parts business by depositing Tk. 45 lac in Prime Bank. B. Aug 14: The company buys parts worth Tk. 12 lacs 50% on credit and 50% by cash. C. Sep 6: The company sells merchandise worth Tk. 330,000 on credit. D. Oct 5: The company receives Tk. 299,000 from customers. E. Oct 31: The company recognizes it has to pay Tk. 13,500 to DESCO in the following month for electricity consumed during October. F. Nov 1: The company paid two months' rent in advance, Tk. 50,000, by giving a cheque on Prime Bank.

Based on the scenario below complete: (i) any five journal entries, & (ii) draw up T- accounts and post the entries appropriately. A. July 1: Your friend has started a bike parts business by depositing Tk. 45 lac in Prime Bank. B. Aug 14: The company buys parts worth Tk. 12 lacs 50% on credit and 50% by cash. C. Sep 6: The company sells merchandise worth Tk. 330,000 on credit. D. Oct 5: The company receives Tk. 299,000 from customers. E. Oct 31: The company recognizes it has to pay Tk. 13,500 to DESCO in the following month for electricity consumed during October. F. Nov 1: The company paid two months' rent in advance, Tk. 50,000, by giving a cheque on Prime Bank.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5EA: Review the following transactions and prepare any necessary journal entries for Tolbert Enterprises....

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