NM Stores will sublet part of its building to NS Technologies for R7 000 per month from 1 October 20.1. NS Technologies has an agreement with NM Stores in which the rental will be paid with an annual payment on the first day of each new financial year. On 1 October 20.2 the beginning of the financial year, NS Technologies made an EFT of R133 000 which included the one month’s rental as a deposit into the bank account of NM Stores.

The correct general ledger entries in the rental income account of NM Stores on 30 September 20.3 are ...

Instructions:

1.         First do the adjustment general ledger entries and then do your closing transfer general ledger entries.

2.         Use a full stop to indicate any decimals (eg: 1000.01)

3.         Round off to the second decimal after the full stop (eg: 50.56)

4.         Only show the amount, do not show the R (eg: 12141)