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QUESTION 4 Tom started the business on 10.06.2019 with the following. Cash Truck Stocks Bank loan K 10 000 7500 700 2500 Required: record these in general journal including cash. (/5​

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User Firepol
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1 Answer

2 votes

Answer:

Here's the general journal entry for Tom's business starting on 10.06.2019:

Date: 10.06.2019

Account Debit Credit

Cash 10,000

Truck 7,500

Stocks 700

Bank loan 2,500

Step-by-step explanation:

Tom invested K 10,000 in cash to start the business, which is recorded as a debit to the Cash account.

He also purchased a truck for K 7,500 and stocks for K 700, which are recorded as debits to the Truck and Stocks accounts, respectively.

To finance his business, Tom took out a bank loan for K 2,500, which is recorded as a credit to the Bank loan account.

Note: The accounts used in this entry are assumed based on the information provided. It's important to use appropriate accounts based on the specific nature of the business and transactions

QUESTION 4 Tom started the business on 10.06.2019 with the following. Cash Truck Stocks-example-1
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User Herzmeister
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