Ms Porter’s business position at 1 July was as follows:

Required:

(a) Open ledger accounts (including capital) at 1 July

(b) Record all transactions

(c) Prepare a trial balance

(d) Prepare a trading and profit and loss account for the period

(e) Prepare a balance sheet as at 31 July

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Stock Equipment Creditor (OK Ltd) Debtor (AB Ltd) Bank balance During July, she: 5,000 3,700 500 300 1,200 Sold goods for cash - paid to bank 3,200 Sold goods to AB Limited 600 Bought goods from OK Ltd on credit 3,900 Paid OK Ltd by cheque 3,000 Paid general expenses by cheque 500 300 AB Ltd paid by cheque Stock at 31 July was 6,200