ACCOUNTING
Shelly Ryce was employed at Tele Company for 10 years. In recent times, Shelly was made redundant & as a part of her redundancy payment package, she received $2,000,000. Shelly has always loved wearing different hair extensions, & realizing how lucrative the hair business. She decided that she wants to start a hair supplies store, called “Shelly Hair.” Shelly started operations on May 1, 2021, & has been advised that even though it is a small business, it is important to keep proper accounting records.
The following transactions:
May 18 - Miss Ryce paid her cashier a cheque of $15,000 for her fortnightly salary.
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