caroline commenced business on 1 jan 2016 .she had opened business bank account on 15 Dec 2015 and deposit capital p25000.on 21 Dec 2015 rented premises and paid first quarter rent due on 25 Dec 2015 p1200.she also purchase fixed asset cash at p8000 and p20000 inventory which is brought on one month credit. caroline estimated that her purchases and sales for the year to 31 Dec 2016 are as follows: 3 months to Marc 2016 purchases p12000 sales p15000, June 30 purchases p18000 s ales 24000,sept 30 purchases p21000 sale 30000 and Dec 31 purchases p15000 sales 36000.

all purchases and sales will be on one month credit jan 5 purchases motor van for cash p5000 the van is to depreciate annually at 20percent on cost wages of p2000 per month paid currently drawings of p500 per month additional capital p3500 june 2016

business loan p6000 in September 2016 bank agreed to alow 10percent intrest overdraft facilities

er purchaves and the sales for the year to 31 becember 2616 wib will be on one monthis credit 16 will be as follows: notor van for cash 195000 , the van is to be depreciated annu er purchaves and the sales for the year to 31 becember 2616 wib will be on one monthis credit 16 will be as follows: notor van for cash 195000 , the van is to be depreciated annu