The following transaction incurred in Guarantee section in the main branch of Petra bank on Monday 15/5/2006. 1. Guarantee of JD 80000 issued on behalf of Nile Co. for there months (2% commission, 25% collateral record in account). 2. Guarantee of JD 90000 issued on behalf of Eduetion Co. for there months (2% commission, 100% collateral by cash). 3. Guarantee of JD 56000 issued on behalf of Sar Co. for three months (2% commission, 25% collateral on credit account). 4. Guarantee of JD 75000 ended and delated, this guarantee belongs to Maher Co. with collateral 50%. 5- The bank paid on behalf of its customer (Khaled Co.) a guarantee totaled JD 55000; its collateral was 30% the requirement is the entries

The following transaction incurred in Guarantee section in the main branch of Petra bank on Monday 15/5/2006. 1. Guarantee of JD 80000 issued on behalf of Nile Co. for there months (2% commission, 25% collateral record in account). 2. Guarantee of JD 90000 issued on behalf of Eduetion Co. for there months (2% commission, 100% collateral by cash). 3. Guarantee of JD 56000 issued on behalf of Sar Co. for three months (2% commission, 25% collateral on credit account). 4. Guarantee of JD 75000 ended and delated, this guarantee belongs to Maher Co. with collateral 50%. 5- The bank paid on behalf of its customer (Khaled Co.) a guarantee totaled JD 55000; its collateral was 30% the requirement is the entries

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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