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draw it's trial balance 7.5 Henry York is a sole trader who keeps records of his cash and bank transactions in a threecolumn cash book.
draw it's trial balance
7.5 Henry York is a sole trader who keeps records of his cash and bank transactions in a threecolumn cash book. His transactions for the month of March were as follows: March 1 Cash in hand f100, Cash at bank 5,672 This represented sales. 6 Paid wages in cash 39 8 Sold goods for cash 152 10 Received cheque from G Smart for f315, in full settlement of a debt of f344; this was paid directly into the bank. 11 Paid sundry expenses in cash 73 14 Purchased goods by cheque for f800 18 Paid J Sanders a cheque of 185 in full settlement of a debt of 201 23 Withdrew f100 from the bank for office purposes 24 Paid wages in cash f39 26 Sold goods for cash 94 28 Paid salaries by cheque f230 31 Retained cash amounting to 150 and paid the remainder into the bank Required: (a) Enter the above transactions within T-accounts and bring down the balances. (b) Assuming no opening debtors, creditors or stock, prepare a trading and profit and loss account for the month of MarchStep by Step Solution
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