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Complex Journal entries question 1. Nelson and Murdock opened their shop with ₤5000 cash, ₤30000 bank, furniture costing ₤50000 and machinery amounting to₤ 85000 2. They bought goods worth₤ 60000 on which they got₤ 20000 trade discount. The payment was made partially by cash ₤1000, by bank ₤19000 and the remaining was credited to Fisk company.

3. They sold the goods worth ₤10000 to PỪ Ṧh ḥk ḥḯḯṅ Company for credit of 60 days. 4. They hired a maintenance person Mr. Mulder and a shop attended Miss Scully at the salary of₤ 4500 and₤ 6500 per month. At the month end the company recorded their salaries 5. The company offered cash discount of 20% to PỪ Ṧh ḥk ḥḯḯṅ Company which they immediately accepted and made the payment by cheque. 6. The company returned goods worth ₤5000 to Fisk Company. The company record indicate that the payment of these goods remained pending on credit 7. The company machine worth ₤ 20000 was destroyed by fire. An insurance claim against loss of ₤10000 was received. 8. Mr Nelson the owner paid for the settlement of fisk company out of his own pocket ₤15000 9. .Mr. Murdock the owner, took away furniture 1000 for his personal use. 10. The company made credit sales to the following : Mrs. Robertson ₤ 500 Mr. Hudson ₤1000 Miss Cynthia ₤ 600 and Mr. Wesley ₤985...