ABFA1173 Principles of Accounting 1

Lecture 2: The Cash Cycle Learning objectives:

After you have studied this chapter, you should be able to:
Important Textbook Reading:  Distinguish between the different types of business transactions and
 Chapters 11, 12 & 13: Frank Wood & Alan Sangster “Business Accounting 1” parties to business transactions
 Additional reference per approved unit plan  Distinguish between the different types of source documents
Recommended Practice Questions:  Understand the nature of Cash Book and types of cash in business
 Chapter 13 : Question no. 13.3, 13.4A  Prepare the Cash Book
 Record transactions in the Cash Book
 Posting from the Cash Book to the Ledgers
 Distinguish between discount allowed and discount received
 Explain the meaning of contra entries
 Distinguish between capital introduced and withdrawal
 Distinguish between the bank balance and bank overdraft
Extract of the “Accounting Cycle” – THE CASH CYCLE

The 7 Books
Source Documents of Prime Entry The 3 Ledgers

Invoice

Cash Bill Sales Ledger

Payment Voucher Cash Book General Ledger

Official Receipt Purchases Ledger

Cheque counterfoil
ABFA1173 Principles of Accounting 2

1. Types of business transactions Below are descriptions of the different types of customers:
i) Trade customers: Customers to whom the business sells trading
Business transactions can be classified into two types, i.e. either cash items, i.e. trade sales
term or credit term: ii) Other customers: Customers to whom the business disposes non-
i) Cash term: Payment is made/collected immediately (upon trade items
purchase/sale) iii) Trade receivables: Trade customers who are allowed to delay
ii) Credit term: Payment is made/collected at a future date, based on payment until the end of the credit term
the credit period given, normally 30 days, 60 days, or 90 days. iv) Other receivables: Other customers who are allowed to delay
payment until the end of the credit term
Business transactions involve the following different types of
purchasing and selling activities: 3. Source documents
i) Trade purchases: Purchases of items for the purpose of trading, i.e.
items to be subsequently sold to customers at a profit All business transactions must be evidenced by a source document, e.g.
ii) Other purchases: Purchases of items not for the purpose of items cannot change hands without an invoice being first generated to
trading, e.g. purchase of office equipment and stationeries for use in record the details of the transaction.
the office
iii) Trade sales: Sales of trading items The following are the relevant source documents in the cash cycle:
iv) Disposals: Non-trade items being sold e.g. old motor vehicle Source Explanation
disposed at a scrap value document
Invoice To inform customer the amount to be paid, amount of
2. Parties to business transactions discount given, whether cash term or credit term and
interest charges for late payment.
There are always two parties to every business transaction, i.e. the
supplier and the customer. Cash bill This is the same as an Invoice, but is used only when
the transaction is on cash terms (by cash or by
Below are descriptions of the different types of suppliers: cheque) customer only.
i) Trade suppliers: Suppliers from whom the business purchases
items for the purpose of trading, i.e. trade purchases Payment To record the payment by cash or cheque.
ii) Other suppliers: Suppliers from whom the business purchases non- voucher
trade items, i.e. other purchases
iii) Trade payables: Trade suppliers who allow the business to delay Official receipt To acknowledge money has been collected.
payment until the end of the credit term
iv) Other payables: Other suppliers who allow the business to delay Cheque To record the amount paid on a particular numbered
payment until the end of the credit term counterfoil cheque (the counterfoil is the portion left after tearing
out the particular cheque).
ABFA1173 Principles of Accounting 3

4. Types of cash 6. Discounts

Cash is money that belongs to the business, therefore, it is a current Discounts are deductions allowed by the supplier to the customer. There
asset. There are three types of cash in the business, i.e. cash, bank and are two types of discounts:
petty cash (as illustrated below): i) Trade discount: percentage reduction granted to a customer from
the list price due to the purchase of a large quantity. Refer Lecture 4
Cash(Current asset)Cash bookPetty cash bookCash accountBank – Note 2.
accountPetty cash account(kept in the office(current account)(small ii) Cash discount: a percentage reduction granted to the customer in
amount keptby main Cashier)by Petty Cashier) order to encourage paying (earlier than the credit period given)
within a specified period.

Cash discounts are:

i) Discount received: cash discount received from trade payables and
it represents an income (profit) because we pay a lesser amount.

Example: Credit purchases from Encik Baba RM700. Paid cheque to

settle the full amount with a 5% discount when paying within 15 days.
5. Cash Book
Dr (RM) Cr (RM)
Cash Book is a book of prime entry, used to record all types of cash Dr Trade payables: Encik Baba 700
and cheque transactions, i.e. actual cash received or paid, deposits into Cr Discount received 35
the bank account and issuance of cheques from the bank account. Cr Bank 665
Payment to Encik Baba with 5% cash discount within 15 days
Cash Book also functions as the General Ledger accounts for cash
account and bank account. Cash Book
Date Particular Folio Discount Cash Bank Date Particular Folio Discount Cash Bank
Format: The three-column Cash Book Allowed Received
RM RM RM RM RM RM
Cash Book TP:En Baba 35 665
Date Particular Folio Discount Cash Bank Date Particular Folio Discount Cash Bank
Allowed Received
RM RM RM RM RM RM
√ √
I give
√ √ EARLY
payment
discount
En Baba 5%
Note: Indicate “√” under “folio”for contra entries only. Refer note 7 on page 4.
ABFA1173 Principles of Accounting 4

Discount allowed: cash discount given to trade receivables and it represents Cash Book
an expense (loss) because we receive a lesser amount. Date Particular Folio Discount Cash Bank Date Particular Folio Discount Cash Bank
Allowed Received
Jan RM RM RM Jan RM RM RM
Example: Credit sales to Encik Ali RM800. Received cheque to settle 3 Bank √ 500 3 Cash √ 500
the full amount with a 5% discount when received within 15 days. 8 Cash √ 600 8 Bank √ 600

Dr (RM) Cr (RM)
Dr Bank 760 8. Capital contribution
Dr Discount allowed 40
Cr Trade receivables: Encik Ali 800 The business owner contributes capital into the business. The capital
Payment received from Encik Ali with 5% cash discount within 15 days contribution is either in the form of cash or cheque. A ledger account is
opened in the General Ledger for capital.
Cash Book
Date Particular Folio Discount Cash Bank Date Particular Folio Discount Cash Bank Example: Encik Kamal paid a cheque of RM150,000 as capital into the
Allowed Received business.
RM RM RM RM RM RM
TR:En Ali 40 760 Dr (RM) Cr (RM)
Dr Bank 150,000
Cr Capital 150,000
Capital contributed by the business owner
7. Contra entries

Transfer of cash to bank or vice-versa. 9. Withdrawal of cash or cheque

Jan 3: Withdraw RM500 from bank as cash for office use. The business owner may withdraw cash or cheque from the business for
Dr (RM) Cr (RM) personal use. This is called drawings. A ledger account is opened in the
Dr Cash 500 General Ledger for drawings.
Cr Bank 500
Transfer from bank to cash for office use Example: Encik Kamal issues a cheque of RM800 to pay for his
personal life insurance premium.
Jan 8: Deposit cash RM600 into the bank account. Dr (RM) Cr (RM)
Dr (RM) Cr (RM) Dr Drawings 800
Dr Bank 600 Cr Bank 800
Cr Cash 600 Drawings by cheque
Deposit cash into a bank account
ABFA1173 Principles of Accounting 5

10. Closing the Cash Book

At the end of every month, the Cash Book is closed in order to do

posting of totals to the General Ledger.

The Cash account will always be a positive balance (debit balance)

because this is the amount that is left inside the office (kept by Cashier).

The Bank account may give a positive (debit) or negative (credit)

balance:
i) Debit balance (Bank balance): there is excess cash left in the bank
account for the business to use the following months.
ii) Credit balance (Bank overdraft): the business had used more than
the available cash kept in the bank account.

Do you know what is BANK OVERDRAFT ?

Bank overdraft is a special loan that had been approved by the bank
for the business to issue cheques more than the amount deposited into
the current account. The bank overdraft facility will specify the
maximum limit available for the business to use. Bank interest will be
calculated based on the actual amount of bank overdraft balance on a
monthly basis.
ABFA1173 Principles of Accounting 6

Collection cycle

The 7 Books
Source Documents of Prime Entry The 3 Ledgers

1 Issue either the cash

bill or invoice to the
customer 7 If collection is received
from Trade
Receivables – post to
Sales Ledger

2 Receive the payment

in cash or cheque and
issue official receipt
as acknowledgement
5 Record on the debit
side of the Cash Book
8 Other collections
except Trade
Receivables – post to
the relevant account in
the General Ledger

3 Deposit the cheque

into bank account
9 At the end of every
month, total collected
from Trade
Receivables – post to
General Ledger

4 If cheque is
dishonoured, must
chase customer again
for collection
6 Record on the credit
side of the Cash Book
ABFA1173 Principles of Accounting 7

Illustration 1: Collection cycle Journal entriesDr (RM)Cr (RM)June 2DrCash2,500Cr Sales2,500Cash

sales5DrCash150Cr Disposal of Office Equipment150Disposal of old
DateTransactionsJune 2Cash sales of RM2,5005Sold an old office office typewriter for cash12DrBank5,000Cr Other Receivables: Motor
typewriter for RM150 for cash12Received a cheque from Motor Trader5,000Payment received from Motor
Trader as full settlement of an outstanding invoice of RM5,000 from Trader19DrBank7,600DrDiscount Allowed400Cr Trade Receivables:
disposal of an old delivery van last month19Received a cheque from Elaine8,000Payment received from Elaine21DrTrade Receivables:
Elaine as full settlement of an outstanding invoice of RM8,000 and Elaine8,000Cr Bank7,600Cr Discount Allowed400Dishonoured cheque
deducting cash discount of 5%21Informed by the bank that Elaine’s from Elaine
cheque was dishonoured due to insufficient funds in her bank account

General Ledger
Sales AccountRMJuneRM2Cash2,500
Disposal of Office Equipment AccountRMJuneRM5Cash150
Other Receivables: Motor Trader
AccountRMJuneRM12Bank5,000

Cash Book
DateParticularFolDisc.CashBankDateParticularFolDisc.CashBankAllwRec’dJuneRMR
MRMJuneRMRMRM2Sales2,50021TR:Elaine7,6005Disposal of Office
Equipment15012OR:Motor Trader5,00019TR: Elaine4007,60021TR: Elaine(400)

Sales Ledger
Trade Receivables: Elaine
AccountJuneRMJuneRM21Bank7,60019Bank7,60021Disc.
Allw40019Disc. Allw400
ABFA1173 Principles of Accounting 8
ABFA1173 Principles of Accounting 9

Payment cycle
Illustration 2: Payment cycle
DateTransactionsJune 3Cash purchases of RM3,8004Purchased
Bank4,0
The 7 Books computer for office use RM4,000 by cheque11Paid a cheque to Ricoh
Source Documents The 3 Ledgers Enterp
of Prime EntryEnterprise as full settlement of an outstanding invoice of RM12,000
month’s pur
for last month’s purchase of photocopier machine for office
Bank
use18Paid a cheque to Jack as full settlement of an outstanding
discount
invoice of RM6,000 and deducting cash discount of 6%30Paid office

1 Receive either the rent RM2,500 by cheque

cash bill or invoice
from the supplier
General Ledger
Purchases AccountJuneRMRM3Cash3,800

2 Prepare the payment

voucher Office Equipment AccountJuneRMRM4Bank4,000
Other Payables: Ricoh Enterprise
AccountJuneRMRM11Bank12,000
Office Rent AccountJuneRMRM30Bank2,500

3 The boss signs

approval on the
payment voucher 7 If payment is made to
Trade Payables – post
to Purchases Ledger

4 Pay cash or write

cheque to supplier
(supplier signs on
payment voucher and
6 Record on the credit
side of the Cash Book
8 Other payments except
Trade Payables – post
to the relevant account
in the General Ledger
DateParticularF
MJuneRMRMR
Jack3605,6403
issues official receipt)

5 Keep as evidence, the

payment voucher and
cheque counterfoil (if
payment is made by
Purchases Ledger
9 At the end of every
month, total paid to
Trade Payables: Jack AccountJuneRMRM18Bank5,64018Disc.
Trade Payables – post
Rec’d360
to General Ledger
cheque) and official
receipt from supplier
ABFA1173 Principles of Accounting 10

The 7 Books
Contra entries & drawings
Source Documents of Prime Entry

1 Prepare the payment

voucher and obtain
boss approval

2 Contra entries: Either

issue cheque to
withdraw cash or
withdraw cash to
deposit into bank

3 Drawings: Either issue

cheque or withdraw
cash to pay owner

4 Sign on payment
voucher to
acknowledge receipt 6 Record in the Cash
Book

5 Keep as evidence, the

payment voucher
and/or cheque
counterfoil and/or bank
deposit slip
ABFA1173 Principles of Accounting 11

Capital contribution

The 7 Books
Source Documents of Prime Entry The 3 Ledgers

1 Receive the cash or

cheque from business
owner

2 Deposit the cheque

into bank account

3 Issue official receipt

5 Record in the Cash
Book
6 Post to the capital
account in the General
Ledger

4 Keep as evidence, the

bank deposit slip and
official receipt
ABFA1173 Principles of Accounting 12

Illustration 3: Contra entries, capital & drawings

DateTransactionsJune 1Owner injects / contributes capital of Journal entriesDr (RM)Cr (RM)June 1DrBank80,000Cr
RM80,000 for the business2Withdraw RM3,000 cash for office Capital80,000Capital injection / contribution by owner2DrCash3,000Cr
use18Paid a cheque RM1,200 for owner’s son’s school fees30Deposit Bank3,000Transfer from bank account to cash18DrDrawings1,200Cr
RM1,000 cash into bank account Bank1,200Drawings for personal use30DrBank1,000Cr
Cash1,000Transfer from cash to bank account

General Ledger Cash Book

Capital AccountRMJuneRM1Bank80,000 DateParticularFolDisc.CashBankDateParticularFolDisc.CashBankAllwRec’dJuneRMR
Drawings AccountJuneRMRM18Bank1,200 MRMJuneRMRMRM1Capital80,0002Cash√3,0002Bank√3,00018Drawings1,20030Ca
sh√1,00030Bank√1,000
ABFA1173 Principles of Accounting 13

Illustration 4: Closing the Cash Book

Cash Book General Ledger
DateParticularFolDisc.CashBankDateParticularFolDisc.CashBankAllwRec’dJuneRMR Trade Payables Control AccountJuneRMRM30Bank5,64030Disc.
MRMJuneRMRMRM1Capital80,0002Cash√3,0002Bank√3,0003Purchases3,8002Sales Rec’d360
2,5004Office Equipment4,0005Disposal of Office Equipment15011OP: Discount Received AccountRMJuneRM30Trade Payables360
Ricoh12,00012OR:Motor Trader5,00018Drawings1,20019TR: Elaine4007,60018TP: Trade Receivables Control
Jack3605,64021TR: Elaine(400)21TR:Elaine7,60030Cash√1,00030Office AccountJuneRMJuneRM30Bank7,60030Bank7,60030Disc.
Rent2,50030Bank√1,00030Bal c/d85057,66005,65093,6003605,65093,600July1Bal Allw40030Disc. Allw400
b/d85057,660 Discount Allowed AccountJuneRMJuneRM30Trade
Receivables40030Trade Receivables400

Dr (RM)Cr (RM)DrBank7,600DrDiscount Allowed400Cr Trade

Receivables Control Account8,000DrTrade Receivables Control
Journal entriesDr (RM)Cr (RM)June 30DrTrade Payables Control Account8,000Cr Discount Allowed400Cr Bank7,600Month-end
Account6,000Cr Bank5,640Cr Discount Received360Month-end posting posting from Cash Book
from Cash Book
ABFA1173 Principles of Accounting 14

Lecture Illustration
Cash Book
Record in a three-column Cash Book for Syarikat Daya Sdn. Bhd. the Date Particular Fol Disc. Cash Bank Date Particular Fol Disc. Cash Bank
following transactions and show the posting at the end of the month to the Allw Rec’d
relevant General Ledger accounts. July RM RM RM July RM RM RM
1 Capital 20,000 2 Bank √ 18,000
July
2 Cash √ 18,000 5 F. deposit 8,000
1 Commence business with cash RM20,000 as capital. 9 Sales 3,600 6 Purchases 2,100
2 Open a current account with MB Bank and deposits RM18,000 cash. 19 Loan 5,000 10 Furniture 2,300
5 Issued a cheque amount RM8,000 to open a fixed deposit account for T. R.:
23 Cahaya 200 3,800 13 Entertainm. 1,000
one year term.
Enterprise
6 Bought goods for cash RM2,100. 25 Bank √ 6,500 17 Gen. Exp. 1,500
9 Cash sales of RM3,600. T. P.: Mimi
20 300 5,700
Trdg.
10 Bought tables and chairs RM2,300 by cheque from Jaya Furniture Co.
21 Drawings 400
13 Withdrew cash RM1,000 for business entertainment. 25 Cash √ 6,500
17 Paid general expenses by cash RM1,500. 26 Office eqm 3,000
19 Loan received from MB Bank RM5,000, deposited into bank account. 27 Utilities 800
20 Daya settled the amount of RM6,000 owing to Mimi Trading by 27 Wages 700
Cheque, deducting cash discount of 5%. 28 Rent 1,200
30 Salary 2,500
21 Withdrew cash RM400 from bank for personal usage.
31 Bal c/d 3,000 200
23 Received a cheque from Cahaya Enterprise for the settlement of debts
200 30,100 26,800 300 30,100 26,800
amounted to RM4,000, deducting cash discount of 5%. Aug
25 Withdrew cash RM6,500 from bank for office use. 1 Bal b/d 3,000 200
26 Cash RM3,000 paid to Speed Computer Sdn. Bhd. for a set of
computer for office used.
27 Paid office utilities RM800 and wages RM700 by cash.
28 Cheque amount of RM1,200 for office rental.
30 Paid salary RM2,500 by cheque.
ABFA1173 Principles of Accounting 15

General Ledger

Trade Payables Control Account Trade Receivables Control Account

July RM RM RM July RM
31 Bank 5,700 31 Bank 3,800
31 Disc. Rec’d 300 31 Disc. Allw 200

Discount Received Account Discount Allowed Account

RM July RM July RM RM
31 Trade Payables 300 31 Trade Receivables 200
ABFA1173 Principles of Accounting 16

Learning objectives:
The Petty Cash (Imprest System) After you have studied this chapter, you should be able to:
 Explain the use of a petty cash book
Important Textbook Reading:  Make entries in a petty cash book
 Chapter 14: Andrew Leong & Wong SV “Business Accounting”  Transfer the appropriate amounts from the petty cash book to the
 Chapter 18: Frank Wood & Alan Sangster “Business Accounting 1” ledgers at the end of each period
Recommended Practice Question:  Understand the imprest system for petty cash
 Chapter 18: Question no. 18.4  Record transactions in a General Journal

Extract of the “Accounting Cycle” – THE PETTY CASH CYCLE

The 7 Books
Source Documents of Prime Entry The Ledgers

Petty Cash Voucher

Original Bill Petty Cash Book General Ledger

Payment Voucher for

reimbursement of
petty cash amount
ABFA1173 Principles of Accounting 17

11. Introduction The advantages of the imprest system besides being useful control and
monitoring of petty cash payments includes:
Petty cash book is both a book of original entry and a ledger. It is used to
record small cash payment for any immaterial expenses such as taxi fare, (a) The size of the float can be adjusted according to the needs of the
purchase of stationery, postage, donation and etc. Normally the cash float business, depending on the frequency and amount of petty cash
amount not more than RM1000. payments.

12. Source documents (b) The elements of safety and accountability are maintained since the
petty cash is under the responsibility of an appointed Petty Cashier
All business transactions must be evidenced by a source document, e.g. and he or she has to get regular reimbursement from Payment
items cannot change hands without an invoice being first generated to section.
record the details of the transaction.
Format
The following are the relevant source documents in the petty cash cycle: Petty Cash Book
Source Explanation Date Particular Voucher Receipt Payment Analysis
document Number Dr Cr Stationary Postage Travel Sundries
Original bills Cash receipts, taxi slips etc for transactions incurred

Petty Cash Record payment of petty cash claims

Illustration
Voucher
Encik Chandra started a business on 1 May. He decided to have a petty cash
system for the small amount of payment for a month. A cheque amount of
Payment To record the payment by cash or cheque whenever
RM200 was issued as a petty cash float. During the month, the following
voucher reimbursement is requested to top up the balance.
transactions took place:

May 2 Stamps 20.00

4 Bus fare 11.00
13. The Imprest System: 5 Donation 22.00
8 Pens 14.00
At the end of the period, the cashier will reimburse the petty cashier the 10 Coffee 15.00
amount of petty cash spent during the period so that the petty cashier will 13 Taxi fare 16.00
start with the same amount of the petty cash float. 17 Poslaju 13.00
18 A4 Paper 18.00
The source documents will be various cash bills, receipts etc. Petty cashier 20 Tea 17.00
will issue the petty cash voucher and signed by the recipients to 23 LRT tickets 12.00
acknowledge the receipts of petty cash. 26 Parcel 19.00
28 Cleaning 21.00
ABFA1173 Principles of Accounting 18

Petty Cash Book

Date Particular Voucher Receipt Payment Analysis
May Number Dr Cr Stationery Postage Travel Sundries Travel Account
1 Bank 200 May RM RM
2 Stamps 5-01 20 20 31 Petty Cash 39
4 Bus fare 5-02 11 11
5 Donation 5-03 22 22
8 Pens 5-04 14 14
10 Coffee 5-05 15 15 Sundries Account
13 Taxi fare 5-06 16 16 May RM RM
17 Poslaju 5-07 13 13 31 Petty Cash 75
18 A4 Paper 5-08 18 18
20 Tea 5-09 17 17
23 LRT 5-10 12 12
tickets
26 Parcel 5-11 19 19
28 Cleaning 5-12 21 21
198 32 52 39 75
31 Bal c/d 2
200 200
31 Bal b/d 2
Bank 198
200
Jun1 Bal b/d 200

General Ledger

Stationery Account
May RM RM
31 Petty Cash 32

Postage Account
May RM RM
31 Petty Cash 52
ABFA1173 Principles of Accounting 19

Capital Contribution, Drawings & Others

Extract of the “Accounting Cycle” – THE GENERAL JOURNAL CYCLE

The 7 Books
Source Documents of Prime Entry The Ledgers

Original Invoice General Journal General Ledger

Memorandum
ABFA1173 Principles of Accounting 20

Illustration 1: Capital contribution, drawings & others General Journal

Dr (RM) Cr (RM)
The followings are the transactions of a sole trader who operates Date Particulars
a convenience store selling stationery, household and food stuff: - May 3 Dr Office Equipment 3,500
Cr Capital 3,500
Date Transactions Computer brought into business
May 3 Computer worth RM3,500 brought into business from
house. 5 Dr Repairs 1,200
5 An invoice RM1,200 received from Ali Motor for Cr Other payables : Ali Motor 1,200
repairing the van, with credit term of 30 days. Invoice received for repair the van
10 Took a table RM900 from his shop back to home.
13 Took 5 tins of biscuit @RM22 each and distribute as 10 Dr Drawings 900
sample for promotion purpose. Cr Disposal of Furniture 900
17 Took pens, pencils and A4 papers from shop for use in the Took table from shop for own use
office RM270.
13 Dr Advertisement 110
20 Donates a used photostat machine RM2,500 to Koperasi
Cr Purchases 110
Belia.
Took biscuits and distribute as sample for promotion.
24 One third of the shop rental expense RM1,800 paid is for
house rent.
17 Dr Stationery 270
28 An old typing machine from shop sold to Lingam Store at
Cr Purchases 270
RM250, with credit term of 60 days.
Took stationery from store for office use

20 Dr Donation 2,500
Cr Disposal of Office Equipment 2,500
Used photostat machine donated

24 Dr Drawings (RM1,800/3) 600

Cr Shop rental 600
One third of the shop rental is for house rent

28 Dr Other receivables : Lingam Store 250

Cr Disposal of Office equipment 250
Old typing machine sold at book value
ABFA1173 Principles of Accounting 21

General Ledger Advertisement Account

May RM RM
Office Equipment Account 13 Purchases 110
May RM
3 Capital 3,500
Purchases Account
RM May RM
13 Advertisement 110
Capital Account 17 Stationery 270
RM May RM
3 Office Equipment 3,500
Stationery Account
May RM RM
Repairs Account 17 Purchases 270
May RM RM
5 OP:Ali Motors 1,200
Donation Account
May RM RM
Other Payables : Ali Motor Account 20 Office equipment 2,500
RM May RM
5 Repairs expenses 1,200
Disposal of Office Equipment Account
May RM May RM
Drawings Account 20 Donation 2,500
May RM RM 28 OR:Lingam Store 250
10 Furniture 900
24 Shop rental 600 Shop Rental Account
RM May RM
24 Drawings 600
Disposal of Furniture Account
RM May RM Other Receivables : Lingam Store Account
10 Drawings 900 May RM RM
28 Office Equipment 250