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answer question (a) and (b) R. Smith, a sole trader commenced business on June 1, 2000 with $15000 cash as capital. During the month the

answer question (a) and (b)

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R. Smith, a sole trader commenced business on June 1, 2000 with $15000 cash as capital. During the month the following transactions took place: June 5 Bought equipment with cash $4000 June 9 Paid rent by cash $1000 June 11 Bought goods on credit from E. Grant $3500 June 15 Paid for painting by cash $800 June 17 Sold goods on credit to L. Smart $300 June 19 Received cash from L Smart $200 June 21 Paid E. Grant cash $800 June 27 Sold goods for cash $600 June 28 Goods returned to E. Grant $300 June 30 Goods returned by L Smart $50 Required: (30 Marks) (a) Write up the relevant accounts and balance them (b) Extract a trial balance

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