Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A. Write up a three-column Cash Book for Kevin Davis for the month of 2020 August from the following transactions: (18 marks) August 1
A. Write up a three-column Cash Book for Kevin Davis for the month of 2020 August from the following transactions: (18 marks) August 1 Balances brought down Bank Overdraft $15 000 and Cash $14 200. 2 Bought printing and postage materials $1 500 by cash 45 8 10 15 25832 Sold goods $13 500 by cheques. Received Rates $3 500 in cash. Paid the following their accounts by cheque receiving a 5% discount: K. Allen $4 000, S. Chin $6 000 G Owen $5 500. The following paid us their account by cheque, being allowed a 5% discount S Brown $6 000, U Bell $3 500 and A Paul $4 500. Bought Furniture $5 600 by cheque Paid for Insurance $2 900 by cash Paid salaries $10 000 by cheque 18 Sold goods $8 000 by cash Received commission $6 500 by cheque 27 B. Post the relevant discount accounts in the General Ledger. (2 marks) (Total 20 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started