You are to enter the following transactions, completing the double entry in the books for the month
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You are to enter the following transactions, completing the double entry in the books for the month of May 19X7.
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19X7 May 1 Started business with 2,000 in the bank. " 2 Purchased goods 175 on credit from M Mills. 3 Bought fixtures and fittings 150 paying by cheque. 5 Sold goods for cash 275. 6 Bought goods on credit 114 from S Waites. 10 Paid rent by cash 15. 12 Bought stationery 27, paying in cash. ,, 18 " 35 35 39 35 21 23 24 Goods returned to M Mills 23. Let off part of the premises receiving rent by cheque 5. Sold goods on credit to U Henry for 77. Bought a motor van paying by cheque 300. 30 Paid the month's wages by cash 117. .31 The proprietor took cash for himself 44.
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