How to answer these in MYOB AccountRight? Step-by-step illustrations would be greatly helpful.
Transactions from early Jan 2020
2 Purchased 10 units Swiggle Mobile Phones from Orange Technology at $1,500 each (includes 10% GST), Purchase #340, Supplier Inv#967. Issued Cheque No. 4001 for $5,700 to this supplier for this particular invoice at the time of the purchase.
2 Obtained a loan of $12,000 from Freddy Fred Fred (a family relative of Freddy Jr.) at a simple interest rate of 9% per year, Cheque No. 142, ID #CR000001. The principal and interest on the loan are payable in six months time.
3 Issued Cheque No. 4002 for $10,648 to Big Tech in payment of Purchase #311 (Supplier Inv#249).
3 Received Cheque No. 207 from Seinfeld Technology for the full amount outstanding on their account, ID #CR000002.
3 Issued Cheque No. 4003 for $1,905 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies.
5 Sold the following items on credit to Footys Electros, Invoice #3134:
- 3 units KK900 desktop computers for $1,910 each (includes 10% GST)
- 7 units BEE game consoles for $1,420 each (includes 10% GST).
$3,800 was received immediately, Cheque No. 605, with the rest due to be received during the last week of the month. Note that MYOB automatically assigns ID #CR000003 to this cash receipt.
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