Question
Bone Nsuma is in business as a retailer. The following are his transactions for March 2011. March 1. Started business with $1000 in cash. 2.
Bone Nsuma is in business as a retailer. The following are his transactions for March 2011.
March 1. Started business with $1000 in cash.
2. Bought goods on credit from P.Z Ltd for $560 and immediately deposited cash of $100
5. Received credit note of $60 from P.Z Ltd for goods damaged in transit.
9. Sold on credit to C. Ako five dozen shirts at $6 per shirt
15. Bought goods for cash for $300
18. Cash sales were $250
21. Bought on credit from G.B Oliver Ltd ten cases Club beer at $15 a case.
23. Returned one cash club beer which was in excess of requirements.
26. Credit sales to: B. Dock $240; M. Ryan $120; G. Soul $95; F. Trip $130
27. Goods returned to us by B. Dock $25; F. Trip $35
27. Credit purchases from A. Clerk $218; F. Bean $325
28. Goods returned by us to A. clerk 29; And F. Bean $58
29. Paid G.B Oliver Ltd cash on account $90
30. Paid general expenses $55; wages $43 all by cash.
31. C. Ako settled his account in full by cash.
Enter the following transactions for the month in the appropriate 'T' account and extract trial balance for Bone Nsuma.
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