You are to open the books of K Mullings, 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 19X6.

19X6 May 1 Assets: Premises £2,000; Motor van £450; Fixtures £600; Stock £1,289. Debtors;

N Hardy £40; M Nelson £180;. Cash at bank £1,254; Cash in hand £45.

Liabilities: Creditors: B Blake £60; V Reagan £200.

May 1 Paid rent by cheque £15.

,, 2 Goods bought on credit from: B Blake £20; C Harris £56; H Gordon £38; N Lee

£69.

„ 3 Goods sold on credit to: K O’Connor £56; M Benjamin £78; L Staines £98;

N Duffy £48; B Green £118; M Nelson £40.

„ 4 Paid for motor expenses in cash £13.

“ 7 Cash drawings by proprietor £20.

„ 9 Goods sold on credit to: M Benjamin £22; L Pearson £67.

„ 11 Goods returned to Mullings by: K O’Connor £16; L Staines £18.

„ 14 Bought another motor van on credit from Better Motors Ltd £300.

„ 16 The following paid Mullings their accounts by cheque less 5 per cent cash discount:

N Hardy; M Nelson; K O’Connor; L Staines.

„ 19 Goods returned by Mullings to N Lee £9.

„ 22 Goods bought on credit from: J Johnson £89; T Best £7l.

„ 24 The following accounts were settled by Mullings by cheque less 5 per cent cash discount: B Blake; V Reagan; N Lee.

„ 27 Salaries paid by cheque £56.

„ 30 Paid rates by cheque £66.

„ 31 Paid Better Motors Ltd a cheque for £300.