Berkshire Hathaway Inc.
Enter the following transactions in the appropriate accounts:
20X8
Feb 1 Started business with $220,000 cash.
Feb 2 Paid $198,000 of the opening cash into the bank.
Feb 4 Bought goods on credit $21,000 from C. Bailey.
Feb 5 Bought a van by cheque $88,000.
Feb 7 Bought goods for cash $10,500.
Feb 10 Sold goods on credit $21,500 to J. Thompson.
Feb 12 Returned goods to C. Bailey $4,500.
Feb 19 Sold goods for cash $7,800.
Feb 22 Bought office fixtures on credit from Best Buy $22,500.
Feb 24 L. Edwards lent us $21,000 paying us the money by cheque.
Feb 29 We paid C. Bailey his account by cheque $20,000.
Feb 31 We paid Best Buy by cheque $22,500.