4*

EXERCISE 4.2 Marsha started a new business on 1 January 2013. The following transaction took place during his first month in business: January, 2013 1 Marsha bring in RM10,000 cash and Furniture RM2,000 into the business 1 Bought goods RM1,000 with cash from Astronot Enterprise 2 Bought goods on credit RM1,500 from Amazingamylea & Co 10 Sold goods on credit to Zahidorange for RM2,500 23 Sold goods on credit to Smith for RM1,200 24 Returned goods RM250 to Astronot Enterprise 25 Bought goods for cash RM300 26 Smith returned goods RM50 to the business because of goods defected. 27 Goods sold for cash RM3,000 28 Paid cash to Amazingamylea RM1,400 and the balance is considered as discount 31 Zahid paid the amount owing by him RM2,250 and received the discount You are required to prepare the appropriate ledger account