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ACCA FA · Guided practice (Show me how)

Chapter 11: Journal Entries

Journal entries - writing the double entry down in words

Write down the journal entry for each of the following transactions.

  1. The owner pays $12,000 of her own money into the business bank account.
  2. A debt of $840 owed by a customer is to be written off as irrecoverable.
  3. A machine is bought from Lensa for $15,000. $5,000 is paid at once by cheque, and the rest is left owing.

  1. (a) and (b) Two simple journals

    Prepare the journal entries to record the capital introduced (transaction 1) and the debt written off (transaction 2).

  2. (c) A journal with two credits

    Prepare the journal entry to record the purchase of the machine from Lensa (transaction 3).

Opening this exercise…