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Enter the following transactions for the month of May 2021 in relevant ledger accounts, balance the accounts, bring down the balance and draw up a
Enter the following transactions for the month of May 2021 in relevant ledger accounts, balance the accounts, bring down the balance and draw up a Trial Balance as at 31 May 2021. May 1 Started business with K25 000 in bank and k2 500 in cash. May 2 Bought goods on credit from: David k300. May 3 Paid commission by cheque k500. May 5 Bought motor Van on credit from Exim Motors k15 000. May 6 Cash purchases k 250. May 15 Paid Exim Motors by cheque k15 000. May 16 Paid by cheque, David k150. May 18 Sold goods on credit to: Godfrey k300. May 19 We (Business) returned goods to David k50. May 24 Godfrey returned goods to us (Business) k25. May 25 Withdrew by cheque k500 and Goods(Inventory) costing k250 for personal use. May 26 Received cheque from Godfrey k150. May 28 Received commission k250 by cheque. May 30 Introduced additional capital by bringing in Office Equipment worth. k5 000 to the business. May 31 Cash sales k200
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