Answer to Question #127296 in Accounting for Letlhogonolo

Question

Kolbe Traders had the following transactions which took place during the
month of January 2020:
Date Transaction
5 Raised a loan of R150 000 with Scrum Bank. The money was
deposited in the bank account on the same day.
10 Stationery was purchased from Papadi Store at a cash price of
R20 000 and paid via EFT.
17 Stationery was purchased. Cheque X5 was drawn with an
amount of R10 000.
Required:
Record the transactions above in the relevant General Ledger Accounts of
Kolbe Traders for January 2020.

Answer 1

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