Enter the following information into a manual journal with credits/debits: 27/09/2022Received an electricity & gas bill for $9,400 from AusGas for the month ofSeptember 2022. The bill is due to be paid on the 15th October 2022.(Add a new account "Electricity Payable". Use "210" as the Account Code)29/09/2022 Interest expense on the bank loan is accrued at $400 per month. The interestis paid to the bank quarterly and the first interest payment is due on the 1stOctober 2022.(Add a new account "Interest Payable". Use "235" as the Account Code)30/09/2022 Depreciation on the Office Furniture is $2,400 per year. All assets aredepreciated for a full month regardless of the date acquired.30/09/2022 Recorded the rent expense for the month of September 2022.30/09/2022 Salaries and wages of $5,100 are owed as at 30 September 2022 and will bepaid on the 7th October 2022.

The accrual basis of accounting is the method by which revenues and expenses are recognized when…

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Business

Accounting

Enter the following information into a manual journal with credits/debits:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 1EA: Campus Flights takes out a bank loan in the amount of $200,500 on March 1. The terms of the loan...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Enter the following information into a manual journal with credits/debits:

27/09/2022
Received an electricity & gas bill for $9,400 from AusGas for the month of
September 2022. The bill is due to be paid on the 15th October 2022.
(Add a new account "Electricity Payable". Use "210" as the Account Code)
29/09/2022 Interest expense on the bank loan is accrued at $400 per month. The interest
is paid to the bank quarterly and the first interest payment is due on the 1st
October 2022.
(Add a new account "Interest Payable". Use "235" as the Account Code)
30/09/2022 Depreciation on the Office Furniture is $2,400 per year. All assets are
depreciated for a full month regardless of the date acquired.
30/09/2022 Recorded the rent expense for the month of September 2022.
30/09/2022 Salaries and wages of $5,100 are owed as at 30 September 2022 and will be
paid on the 7th October 2022.

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