On 1 October 2024, James Taylor decided to open Taylor’s Tailormade that makes suits, trousers and jackets and repairs and alters clothes. He contributed for this purpose sewing equipment \($38000\) and a commercial van \($44\) 000, and deposited \($20000\) cash in a business bank account. Transactions during October were as follows (ignore GST).

Required

(a) Prepare three-column running balance ledger accounts. Give each account a suitable account number.

(b) Prepare a trial balance as at 31 October 2024.

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October 4 Took a 3-year lease on a shop and paid first month's rent of $1800. 4 Purchased haberdashery supplies for $4200; paid with an electronic transfer of $1200 and paid for the rest with credit. 6 Cash received for minor clothing repairs, $120. Revenue earned for tailor making a two-piece suit for Andrew Fraser on credit, $840. 7 Purchased a sewing machine, $3800, paying $800 cash and taking out a loan for the balance. 8 Cash revenue earned, $1260. 11 Engaged a sewer at an agreed wage of $1100 per week. 12 Paid petrol $120, postage $40, and electricity bill $420. 13 Cash of $200 received for over-the-counter repairs. Revenue of $1500 earned from a customer on credit. 14 Paid for haberdashery supplies purchased on credit on 4 October. 15 Withdrew $600 for own use. 16 Cash revenue received, $1850. 17 Haberdashery supplies purchased for $500 on credit. 18 Paid wages to employee. 21 Revenue earned for making clothes: cash $1340; on account $2500. 23 Andrew Fraser paid the bill for services rendered on 6 October. 24 Petrol expenses paid, $80. 25 Paid weekly wages to employee. 28 Revenue earned for clothes $2420, receiving $200 in cash and the remainder on credit. 31 Haberdashery supplies used, $620.