7.5 Henry York is a sole trader who keeps records of his cash and bank transactions in a threecolumn cash book. His transactions for the month of March were as follows: March 1 Cash in hand 100, Cash at bank f5,672 4 York received a cheque for 1,246 from W Abbot which was paid directly into the bank. This represented sales. 6 Paid wages in cash f39 8 Sold goods for cash f152 10 Received cheque from G Smart for f315, in full settlement of a debt of f344; this was paid directly into the bank. 11 Paid sundry expenses in cash f73 14 Purchased goods by cheque for f800 18 Paid J Sanders a cheque of f185 in full settlement of a debt of f201 23 Withdrew f100 from the bank for office purposes 24 Paid wages in cash f39 26 Sold goods for cash f94 28 Paid salaries by cheque f230 31 Retained cash amounting to f150 and paid the remainder into the bank Required: (a) Enter the above transactions within T-accounts and bring down the balances. (b) Assuming no opening debtors, creditors or stock, prepare a trading and profit and loss account for the month of March