Question

• Mavtech, a computer trading company placed an order for 30 computers on September 15th on its supplier. At the supplier's request, Mavtech paid the full order value of $30,000 on September 29th. The order was received on October 2nd. You are required to show the journal entries on September 15th September 29th and October 2nd, Edit Insert Format Tools Table 12pt Paragraph BI U A 2 TV

Answer 1

Date	General Journal	Debit	Credit
Sept. 15	No Entry Required	$           -
			$           -
Sept. 29	Advance to Supplier	$ 30,000
	Cash		$ 30,000
	[To record advance paid to supplier]
Oct. 2	Purchases	$ 30,000
	Advance to Supplier		$ 30,000
	(To record purchases)