On 1 September, V Duckworth, a bar manager and entrepreneur, has the following financial position relating to her activities as a corporate function organiser:

During September the following events occur:

1. M Baldwin settles his account after taking a cash discount of 20%.

2. A Roberts is declared bankrupt and no payments are anticipated in respect of the debt.

3. G Platt pays in full.

4. All creditors are paid. Newton and Ridley had indicated that, because of the speed of payment, a 10% quick settlement discount may be deducted from the payment.

Required:

(a) Use T-accounts to open a bank account and the accounts for the debtors and creditors at 1 September.

(b) Record the above transactions for September.

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Balance at Bank Debtors - M Baldwin - A Roberts - G Platt Stock Creditors - Newton and Ridley - J Duckworth £ 1,000 2,500 900 250 750 4,500 125