QUESTION This class has 30 students Each student is going to

Last updated: 4/6/2024

QUESTION This class has 30 students Each student is going to order a Tesla Model Y Please do not actually order a car this is just a hypothetical question For simplicity we will assume the following The price of each car is 60 000 before sales tax The deposit required while ordering is 12 000 Sales tax are 5 00 assessed when the car is delivered Final payment is due when car is delivered The following is a summary of the transactions that occurred April 7 all 30 students made their orders and paid the 12 000 required deposit April 24 Twenty 24 cars are delivered and the 24 students pay the total remaining balances April 29 the remaining 6 cars are delivered and the 6 students pay the total remaining balances REQUIRED Record proper journal entries for TESLA for the above three transactions Journal entries will be graded for proper format and completeness Please review chapter 2 if needed so you can record proper journal entries Hint It is easier to record the journal entries either on a word document or Excel or on a piece of paper and the upload your work When you upload your work ensure you embed the work so it automatically opens on the discussion window without requiring someone to click on it Alternatively create a well formatted table on Canvas like the one below Journal entries that are not properly formatted see chapter 2 will not be graded DESCRIPTION DATE Jan 5 Cash Equipment Capital Lerriuqs Owner invested in the business DEBIT CREDIT 40 000 120 000 160 000