Prepare the General Journal entries for the following transactions in April 2025: B1, B2, B3, B4, B5.

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ScanSolve AI Tutor · Accepted Answer

here is the completed General Journal for April 2025:

Record Transaction B1 - Drawings of goods.
The owner took goods for personal use. This decreases Trading Stock and increases Drawings.
Record Transaction B2 - Correction of building repair.
The repair expense was incorrectly posted to Land and Buildings. This entry corrects the asset account and records the expense.
Record Transaction B3 - Bad Debts write-off.
The irrecoverable portion of A Pillay's debt is written off. This increases Bad Debts expense and decreases Debtors Control.
Record Transaction B4 - Interest on overdue account.
Interest is charged to L Davies for an overdue account. This increases Debtors Control and records Interest Income.
Interest = $\text{R } 1800 \times 5\% \times \frac{4}{12} = \text{R } 30$ .
Record Transaction B5 - Correction of sales return posting.
Goods returned by M Mabaso were incorrectly posted to S Masebe.

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