Dean Sayer started a new business on 1 May. In your ledger write up the accounts needed
Question:
Dean Sayer started a new business on 1 May. In your ledger write up the accounts needed to record the following transactions.
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May 1 Started business with 7,000 in cash 3 Sold goods on credit to K. Bradshaw priced at 300.80 plus VAT 52.64, total invoice 353.44 6 Paid 5,000 of the cash into a bank account for the business 10 Sold goods on credit to V. Reedman priced at 192.40 plus VAT 33.67, total invoice 226.07 15 Goods returned by K. Bradshaw for 48.00 plus VAT 8.40, a credit note for 56.40 is issued 20 Sold goods to James Seymore priced at 286.20 plus VAT 50.08, total invoice 336.28 26 Received 226.07 in cash from V. Reedman 28 Goods returned by James Seymore for 35.56 plus VAT 6.22, a credit note for 41.78 is issued
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Ram Jashnani
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