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2. Prepare fournal entries, ledger account and prepare the trial balance for Mr. P's business. Use the following transactions. 1. Commenced business with a Capital

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2. Prepare fournal entries, ledger account and prepare the trial balance for Mr. P's business. Use the following transactions. 1. Commenced business with a Capital of 50,000 2. Bought Machinery for cash 10,000 . 3. Purchased goods for cash 15,000. 4. Purchased goods from A on credit 5,000. 5. Sold goods for cash 10,000 . 6. Paid to A 2,000 7. Sold goods to B on credit 3,000 . 8. Paid into Bank 6,000 9. Paid to A by cheque 1,000 . 10. Received from B a cheque for 2,000

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