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4.Mr. Yannick has started business as a trader on 1 October 2022. The following transactions and events of trading for his first month are as
4.Mr. Yannick has started business as a trader on 1 October 2022. The following transactions and events of trading for his first month are as follows: Date Transaction 1 He sets up a business as a sole trader by introducing $20,000 into a business bank account. 280 10 12 262 15 24 25 25 28 30 He pays rent for a shop, $200 in cash. He purchases delivery van for $1,000 paid in cash. He purchases goods costing $5,000 on credit from Adam (invoice no Adam123). He sells goods for $5,000 in cash to John. He sells goods for $3,000 on credit to Jack (invoice no Jack001). He pays the amount, taking advantage of a 10% settlement discount with respect to invoice no. Adam123. Jack paid to Mr. Yannick, taking advantage of a 5% settlement discount with respect to invoice no. jack001. He pays energy bill, $600 in cash. He sells goods for $2,500 in cash. Required: 1- Enter the above transactions into an appropriate cash book. 2- Post the transactions directly to the appropriate nominal ledger accounts. 3- Prepare the trial balance as at October 31, 2022. 99+
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