Question

Below are the transactions of Darren Electric Enterprise for the month of April 2020

Date	Transactions
1 April	Started business with RM50,000 cash.
3 April	Purchased goods from Seng Heng Sdn.Bhd. on credit amounting RM6,000.
4 April	Sold goods on credit to Sofia worth RM1,500.
10 April	Bought furniture on credit from HomePro Bhd. worth RM14,000.
12 April	Paid general expenses RM300 by cash.
14 April	The owner brought in his car valued at RM42,000 into the business.
16 April	Sofia returned goods worth RM200 due to wrong specifications.
17 April	Bought goods from S&L Enterprise RM4,000 by cheque.
18 April	Received a discount RM250 from Seng Heng Sdn.Bhd. for early settlement.
19 April	The owner took a microwave oven worth RM300 for his personal use.
20 April	Paid electricity bill RM225 by cheque to Tenaga Nasional Bhd.
22 April	Purchased a motor van RM50,000 on credit from HSL Finance.
25 April	Received commission amounting to RM3,000 by cheque
27 April	Received a loan of RM15,000 from CIMB Bank.
30 April	Banked in all cash in hand amounting to RM7,000.

Required: Journalize the above transactions in General Journal Form. Explanations are not required.

Answer 1

Darren Electric Enterprise
Journal entries
Date	Account	Debit	Credit
1-Apr	Cash in hand	50,000
	Capital		50,000
3-Apr	Inventory	6,000
	Accounts Payable		6,000
4-Apr	Accounts Receivable	1,500
	Sales Revenue		1,500
10-Apr	Furniture	14,000
	Accounts Payable		14,000
12-Apr	General expense	300
	Cash in hand		300
14-Apr	Vehicle	42,000
	Capital		42,000
16-Apr	Sales Returns and Allowances	200
	Accounts Receivable		200
17-Apr	Inventory	4,000
	Cash at bank		4,000
18-Apr	Accounts Payable	6,000
	Cash in hand		5,750
	Inventory		250
19-Apr	Drawings	300
	Inventory		300
20-Apr	Electricity expense	225
	Cash at bank		225
22-Apr	Vehicle	50,000
	Accounts Payable		50,000
25-Apr	Cash at bank	3,000
	Commission Revenue		3,000
27-Apr	Cash at bank	15,000
	Loans Payable		15,000
30-Apr	Cash at bank	7,000
	Cash in hand		7,000