Business, 30.10.2020 18:30 angie249

Sharon started a business selling shoes and the following transactions took place in the month of March 2020. 2020
Mar
1
Sharon deposited $25 000 into the business bank account.
2
She bought $75 000 worth of shoes for resale from Korean Fashion Retailers on credit.
8
She took a bank loan of $100 000 from Reliable Bank Ltd.
11
Sharon returned $5 400 worth of defective shoes purchased on 2 March.
13
She withdrew $7 500 from the bank for personal use.
14
16
20
Sharon sold $8 900 worth of shoes to Stylish Shoes on credit.
Stylish Shoes returned $1,000 of faulty shoes to Sharon.
Sharon enjoyed cash discount of $2,500 from Korean Fashion Retailers.
Required:
Using the format of the table given below, analyse the transactions into debit and credit components.

Answers: 1

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