Recording Journal Entries of transactions for the month of July 2021 in the books of King Maponga Traders are as follows:
Journal Entries:
July 1 Debit Delivery Vehicle R65,200
Credit Common Stock R65,200
To record the issuance of Journal voucher JV 012.
July 3 Debit Drawings, King Maponga R1,000
Credit Inventory R1,000
To record the issuance of Journal voucher JV 013.
July 6 Debit Interest Receivable (Mr. Settler) R1,800
Credit Interest Revenue R1,800
To record the issuance of Journal voucher JV 014.
July 12 Debit Discounts Allowed R650
Credit Accounts Receivable (C. Zama) R650
To record the issuance of Journal voucher JV 015.
July 20 Debit Motor Vehicle R67,000
Credit Office Equipment R67,000
To record the issuance of Journal voucher JV 016.
July 26 Debit Bad Debts Expense R16,000
Credit Accounts Receivable (Mr. Dodger) R16,000
To record the issuance of Journal voucher JV 017
Data Analysis:
July 1 Delivery Vehicle R65,200 Common Stock R65,200
July 3 Drawings, King Maponga R1,000 Inventory R1,000
July 6 Interest Receivable (Mr. Settler) R1,800 Interest Revenue R1,800
July 12 Discounts Allowed R650 Accounts Receivable (C. Zama) R650
July 20 Motor Vehicle R67,000 Office Equipment R67,000
July 26 Bad Debts Expense R16,000 Accounts Receivable (Mr. Dodger) R16,000
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