Question

Given the following transactions of Mwaura’s Retailers, identify the journals which the transactions will be recorded. 

1. 1st Jan: Sold a motor car worth kshs.145, 000/- for kshs. 140,000/- to Mwazighe on credit. 
2. 2nd May: Cash received from Mwanzi of Kshs. 1,000 receipt no 001. -
3. 6th August: Goods bought on credit worth Kshs. 900 invoice No. 013 from Shah Traders. - 
4. 4th February: Credit sales to Ndika Shs 400/- - 

Answer 1

1. 1st Jan: Sold a motor car worth kshs.145, 000/- for kshs. 140,000/- to Mwazighe on credit. General journal
2. 2nd May: Cash received from Mwanzi of Kshs. 1,000 receipt no 001. - Cash receipts journal
3. 6th August: Goods bought on credit worth Kshs. 900 invoice No. 013 from Shah Traders. - Purchases journal
4. 4th February: Credit sales to Ndika Shs 400/-  Sales journal