Journal entry

GM's sales were $135,592 million in Year 2. Assume that the total paid on warranty claims during Year 2 was $3,000 million.

What's the journal entry?

Journal entry

Journal entry

How do I post the following:

One of our employee has a loan with the company outstanding £3200

His Invoice for May £3700 wich has been posted on SAGE

He is finishing with the company in a month, therefore I paid him only £500 from the bank which I recorded on SAGE as Bank/Supplier payment-£500. The outstanding Invoice shows £3200.

What journal entried do post to show that a loan is paid off and Invoice?

Thanks

Journal entry