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Assignment Task

Exercises

1) You are required to show the double entry effect of the following transaction

  • July 1.Started business with N500.00 cash.

  • Bought goods for cash N85.00

  • Bought goods on credit NI 19 from K.Nasru.

  • Sold goods for cash N42.00.

  • Returned goods to K.Nasiru N28.00

  • Bought on credit N98 from S.Dawuda.

  • Returned goods to S. Dawuda N19.00 Sold goods to A.

  • Femi N55.00 on credit.

  • Paid K. Nasiru's account by cash N88.00

  • A. Femi paid his account in cash.

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  • Posted on : January 08th, 2024

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