Question

how to record these transacrions

Week 3: May 13th to May 19th, 2019 The task for this week is to record transactions for the company, you may need to create new accounts, inventory items, suppliers, and customers as required for the transactions. For detailed help refer to the Xero help-sheets All transaction values are GST inclusive unless noted otherwise. Date Details 13th May You sold 30 P192, 30 H192 and 15 H240 to Jake Wishart. Jake paid you the full amount using a debit card linked to their bank account.. 14th May You received the full payment less discount from AAA Bookstore for their purchase on 7th May. 15th May You paid Facebook $3,000 incl. GST for online advertisements. These ads will run over the next 3 months, with an end date of 15th August 2019. Record this as a prepayment. 16th MayYou sold 15 H128 and 15 H240 to Diane Evers. Diane paid you the full amount into your bank account. 17th May You sold 200 P128 and 150 H128 to Lyndale Primary School. Lyndale Primary School paid you the full amount into your bank account. 17th MayYou paid an invoice for a week's fuel bill of $330 incl. GST from Liberty Petrol 17th May Paid Mega Office Supplies in full for the purchase on 8th May. Details of transactions for Week 3: 13th to 19th May 2019

yeah its not given just wanted to know what to debit and credit.

Thank you

Answer 1

Answer

The entries are done in the sequence given in the question.

Date	Particulars	Debit	Credit
13th May	Bank a/c Dr.
	To Sales a/c
14th May	Cash a/c Dr.
	To AAA Bookstore a/c
15th May	Prepaid advertisement a/c Dr.
	GST a/c Dr.
	To Advertisement a/c
16th May	Bank a/c Dr.
	To Sales a/c
17th May	Bank a/c Dr.
	To Sales a/c
17th May	Fuel Expense a/c Dr.
	GST a/c Dr.
	To Cash a/c
17th May	Mega Office Supplies a/c Dr.
	To Cash a/c