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(a) Record the following transactions in the book of Jameson and balance the account at the end of the month 30 April 2021 (22 marks)
(a) Record the following transactions in the book of Jameson and balance the account at the end of the month 30 April 2021 (22 marks) April 1 Started business with cash $20 000 April 2 Bought fixtures for cash $ 6000 April 4 Obtained a loan of $8000 from bank April 7 Bought goods worth $280 gross price from Max less $40 trade discount. Purchases return to Max S30 et April 10 April 11 Paid Max a cheque $200 in full settlement of his account. 3 476-16 April 21 Sold goods to Allan invoice price $476 less $16 trade discount April 26 Received a cheque of $450 from Allan after deducting $10 cash discount uso April 30 Paid Rent $86. (b) Using an example explain the following accounting concepts: (i) Prudence (ii) Consistency (8marks
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