Answer to Question #220488 in Economics for Piky

Question

On June 1, 2020 David started a business-Web Design Inc. He invested his personal savings of E10,000 into the business. This becomes the capital for the business. The first expenditure. happens on June 5 when David buys a new laptop for his work. The laptop cost him E800. A first break comes when David sign a contract to develop the website of a restaurant at the cost of E3,000. He received an advance payment of E1,000 for the project. David will develop this website and on successful completion, he will receive the balance payment. On June 30, rent was due, E500. On July 5, rent is paid, E500, David completed the project on July 10, and send the invoice for the balance, E3,000. He received the payment of E2,000 from the client on July 20, 2020. Identity and journalise

Answer 1

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