General Journal of Urban Sneakers

Geography
General Journal of Urban Sneakers

ScanSolve AI Answer

Here are the journal entries for the given transactions:

General Journal of Urban Sneakers For June 2026

| Date | Details (Account Debited) | Details (Account Credited) | Folio | Debit (R) | Credit (R) | | :--- | :------------------------ | :-------------------------- | :---- | :-------- | :--------- | | 05 | Drawings | Inventory | | 1 200 | | | | | | | | 1 200 | | 12 | Debtors Control | Interest Income | | 150 | | | | | | | | 150 |

Explanation of Entries:

  • Date 05: The owner taking inventory for personal use is recorded as Drawings. Since the inventory is removed from the business, the Inventory account is credited at its cost price.
  • Date 12: Charging interest to a debtor increases the amount they owe, so Debtors Control is debited. The interest earned is recognized as Interest Income, which is credited.

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General Journal of Urban Sneakers For June 2026 | Date | Details (Account Debited) | Details (Account Credited) | Folio | Debit (R) | Credit (R) | | :--- | :------------------------ | :-------------------------- | :---- | :-------- | :--------- | | 05…

General Journal of Urban Sneakers
Geography

This geography problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.

ScanSolve AI Answer
Here are the journal entries for the given transactions: General Journal of Urban Sneakers For June 2026 | Date | Details (Account Debited) | Details (Account Credited) | Folio | Debit (R) | Credit (R) | | :--- | :------------------------ | :-------------------------- | :---- | :-------- | :--------- | | 05 | Drawings | Inventory | | 1 200 | | | | | | | | 1 200 | | 12 | Debtors Control | Interest Income | | 150 | | | | | | | | 150 | Explanation of Entries: Date 05: The owner taking inventory for personal use is recorded as Drawings. Since the inventory is removed from the business, the Inventory* account is credited at its cost price. Date 12: Charging interest to a debtor increases the amount they owe, so Debtors Control is debited. The interest earned is recognized as Interest Income*, which is credited. That's 2 down. 3 left today — send the next one.