Bjorn Tyke had cash in hand 407 and a bank overdraft of 238 on 1 August. The
Question:
Bjorn Tyke had cash in hand £407 and a bank overdraft of £238 on 1 August.
The following transactions took place during the first week in August:
Required
a) Prepare Bjorn’s cash book for the period 1 August to 7 August.
b) The entries in the cash book to the appropriate ledger accounts.
Transcribed Image Text:
2 August 2 August 3 August 3 August 3 August 3 August 5 August 5 August 6 August 6 August 6 August Cash purchases £137. Paid Harrison by cheque to settle a debt of £300. Harrison allowed Tyke 4% cash discount. Cash sales £1,601. Cash purchases £718. Cheque received from Parker £156; he had deducted £4 cash discount. Debt of £700 owed to Neal settled. Neal allowed 1% cash discount. Cheque received from Nicholson £570; she has deducted £30 cash discount. Cash sales £1,671 Cheque paid to R. Smith Ltd £18,500 for purchase of delivery van on 31 July. Paid motor expenses £116 in cash. Paid £2,500 cash into the bank account.
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