Answer to Question #204926 in Accounting for tetelo

Question

The legal firm, SA Attorneys is registered as a VAT vendor. On 27 March 2020, the partners approved the sponsorship of the tuition fees of a newly registered legal student from a rural area. An amount of R6 900 for the first semester tuition fees was paid to SA University via an EFT. The above transaction will be entered in the … as a book of first entry.

A. trust cash receipts journal

B. business cash payments journal

C. general journal

D. business cash receipts journal

Answer 1

B) business cash payments journal