Answer to Question #124538 in Marketing for bij

Question #124538
4. January 7, the company acquired service equipment for $16,000. The company paid a 50% down payment and the balance will be paid after 60 days.
5. Also January 7, Nishat Electronic Repair Services purchased service supplies on account amounting to $1,500.
6. January 9, the company received $1,900 for services rendered.
7. January 12, the company rendered services on account, $4,250.00. As the amount is to be collected after 10 days..
8. January 14, Mr. Nishat invested an additional $3,200.00 into the business. The entry would be similar to what we did in transaction #1.
9. January Rendered services to a big corporation on December 15. As per agreement, the $3,400 amount due will be collected after 30 days.
10. January On December 22, the company collected from the customer in transaction #7.
Required:
1. Prepare Journal entries in the books of Mr. Ali.
2. Prepare ledger
1
Expert's answer
2020-07-01T09:52:36-0400
Dear bij, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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