You are to open the books of F Polk, a trader, via the journal to record the assets and liabilities, and are then to record the daily transactions for the month of May. A trial balance is to be extracted as on 31 May 20X9.

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20X9 May 1 Assets: Premises £34,000; Van £5,125; Fixtures £810; Stock £6,390. Debtors: P Mullen £140; F Lane £310. Cash at bank £6,240; Cash in hand £560. Liabilities: Creditors: S Hood £215; J Brown £460. 1 Paid storage costs by cheque £40. 2 Goods bought on credit from: S Hood £145; D Main £206; W Tone £96; R Foot £61. 3 Goods sold on credit to: J Wilson £112; T Cole £164; F Syme £208; J Allen £91; P White £242; F Lane £77. 4 Paid for motor expenses in cash £47. 7 Cash drawings by proprietor £150. 9 Goods sold on credit to: T Cole £68; J Fox £131. "1 11 "1 "1 "1 11 "1 11 11 "1 "1 "1 "1 "1 11 Goods returned to Polk by: J Wilson £27; F Syme £41. 14 Bought another van on credit from Abel Motors Ltd £4,850. 16 The following paid Polk their accounts by cheque less 5 per cent cash discount: P Mullen; F Lane; J Wilson; F Syme. 19 Goods returned by Polk to R Foot £6. 22 Goods bought on credit from: L Mole £183; W Wright £191. 24 The following accounts were settled by Polk by cheque less 5 per cent cash discount: S Hood; J Brown; R Foot. 27 Salaries paid by cheque £480. 30 Paid business rates by cheque £132. 31 Paid Abel Motors Ltd a cheque for £4,850.