From the following transactions prepare a journal entries for the month of Jan 21:
a. Assume that at January 1, 20X1, the first day of the new fiscal period of MOHAMMED & Company approves the operating budget for the general fund, providing for $900,000 in revenue and $850,000 in expenditures. What will be the budgetary fund balance?
b. MOHAMMED & Company started the business with 800,000 bank and 300,000 cash.
c. Received dividends by cheques 75,000 and in cash 50,000.
d. Outstanding salary for the month of January was 35,000
e. Paid rent in advance 15,000 by cheque
