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Module 1: Balance day adjustments in the general journal and ledger

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    Thursday

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    7am

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    Friday

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    7am

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    7am

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    Sunday

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    7am

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XSIQ
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Accounting - General journal

General journal

A motor vehicle, which cost $20 000 is depreciated at 10% per annum.

30 Jun
Depreciation of motor vehicles
2 000

Accumulated depreciation of motor vehicles

2 000

Motor vehicles depreciation at 10% per annum straight line

30 Jun
Profit and loss account
2 000

Depreciation of motor vehicles

2 000

Depreciation posted to the Profit and Loss a/c

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