3.11* Jones has been in business since 1 October 2006. The following is a list of her...
Question:
3.11* Jones has been in business since 1 October 2006. The following is a list of her transactions for October 2006:
1.10.06 Capital of £20 000 paid into a business bank account.
2.10.06 Van purchased on credit from Lang for £5000.
6.10.06 Goods purchased on credit from Green for £15 000.
10.10.06 Cheque drawn on the bank for £1000 in order to open a petty cash account.
14.10.06 Goods sold on credit for £6000 to Haddock.
18.10.06 Cash sales of £5000.
20.10.06 Cash purchases of £3000.
22.10.06 Miscellaneous expenses of £500 paid out of petty cash.
25.10.06 Lang’s account settled by cheque.
28.10.06 Green allows Jones a cash discount of £500.
29.10.06 Green is sent a cheque for £10 000.
30.10.06 Haddock is allowed a cash discount of £600.
31.10.06 Haddock settles his account in cash.
Required:
Enter the above transactions in Jones’s ledger accounts.
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