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Journalize the transactions from March

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Question - Sara Company Purchased goods from Rama company for S.R850,000 on March 4, 2020, Sara records purchases gross and a perpetual inventory system. On April 2, Borrowed S.R120,000 from Al- Ahli Bank by signing a 12-month, 6% note, for S.R129,000 note. On May 1, Issued a S.R90,500 for 12-month, 3% note to Rama company in payment of account.

Required - Journalize the transactions from March 4, 2020 to December 31, 2020 (show the calculation)?

Reference no: EM132528878

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