- Matching Debit/Credit Notes: (+) Debit: Asset / Expenses (+)

1. Purchase of Inventory on Credit:

   • Transaction: Your company buys RM2,000 worth of inventory on credit.

• 1. Debit Inventory RM2,000

• 1. Credit Inventory RM2,000

• 1. Credit Accounts Payable RM2,000

• 1. Debit Accounts Payable RM2,000

1. Payment of Utility Bills in Cash:

   • Transaction: Your business pays RM300 for utility bills in cash.

• 1. Debit Utility Expense RM300

• 1. Credit Utility Expense RM300

• 1. Debit Cash RM300

• 1. Credit Cash RM300

1. Sale of Goods on Credit:

   • Transaction: Your company sells RM5,000 worth of goods on credit to a customer.

• 1. Credit Accounts Receivable RM5,000

• 1. Debit Accounts Receivable RM5,000

• 1. Credit Sales Revenue RM5,000

• 1. Debit Sales Revenue RM5,000

1. Receipt of Payment from Customer:

   • Transaction: A customer pays RM3,000 towards their outstanding invoice.

• 1. Debit Cash RM3,000

• 1. Credit Cash RM3,000

• 1. Debit Accounts Receivable RM3,000

• 1. Credit Accounts Receivable RM3,000

1. Purchase of Office Supplies with Cash:

   • Transaction: Your company buys RM500 worth of office supplies with cash.

• 1. Debit Office Supplies RM500

• 1. Credit Office Supplies RM500

• 1. Debit Cash RM500

• 1. Credit Cash RM500

1. Payment of Employee Salaries:

   • Transaction: Your company pays RM4,000 in salaries to employees.

• Debit Salaries Expense RM4,000

• Credit Salaries Expense RM4,000

• 1. Debit Cash RM4,000

• 1. Credit Cash RM4,000

1. Borrowing from Bank:

   • Transaction: Your company takes out a loan of RM10,000 from the bank.

• 1. Debit Cash RM10,000

• 1. Credit Cash RM10,000

• 1. Debit Notes Payable RM10,000

• 1. Credit Notes Payable RM10,000

1. Interest Payment on Loan:

   • Transaction: Your company pays RM200 in interest on the bank loan.

• 1. Debit Interest Expense RM200

• 1. Credit Interest Expense RM200

• 1. Debit Cash RM200

• 1. Credit Cash RM200

1. Depreciation of Equipment:

2. Transaction: Record monthly depreciation of RM150 on office equipment.

• 1. Credit Depreciation Expense RM150

• 1. Debit Depreciation Expense RM150

• Credit Accumulated Depreciation RM150

• 1. Debit Accumulated Depreciation RM150

1. Owner's Capital Contribution:

Transaction: The owner invests an additional RM5,000 into the business

• 1. Debit Cash RM5,000

• 1. Debit Cash RM5,000

• 1. Credit Owner’s Capital RM5,000

• 1. Credit Owner’s Capital RM5,000