A Jones has the following credit purchases and credit sales for May:

Required:

(a) Write up sales and purchases day books.

(b) Post the items to the personal accounts.

(c) Post the totals of the day books to the sales and purchases accounts.

(d) What are the books of prime entry within a business and why are they so called? Illustrate your answer with suitable examples.

Transcribed Image Text:

May 1 Sold to M Marshall: brass goods £24, bronze items £36. All less 25 per cent trade dis- count Sold to R Richards: tin goods £70, lead items £230. All less 33½ per cent trade discount Bought from C Clarke: tin goods £400 less 40 per cent trade discount Bought from A Charles: copper goods £320 less 50 per cent trade discount Sold to T Young: tin goods £50, brass items £70, lead figures £80. All less 20 per cent trade discount Bought from M Nelson: brass figures £100 less 50 per cent trade discount 11 11 11 11 9 16 23 31