Question
Enter the following transactions in personal accounts only. Bring down the balances at the end of the month. After completing this, state which of the
Enter the following transactions in personal accounts only. Bring down the balances at the end of the month. After completing this, state which of the balances represent debtors and which represent creditors.
2017
May
1 Credit sales F. Black 620; G. Smith 84; L. Sime 1,200; J. Teel 608.
2 Credit purchases from P. Best 190; I. Donovan 63; G. Lime 210; T. Still 360.
8 Credit sales to G. Smith 322; L. Sime 448.
9 Credit purchases from I. Donovan 215; T. Still 164.
10 Goods returned to us by L. Sime 62; J. Teel 164.
12 Cash paid to us by J. Teel 454.
15 We returned goods to P. Best 25; T. Still 21.
19 We received cheques from L. Sime 180; F. Black 620.
21 We sold goods on time to F. Black 180; G. Smith 860.
28 We paid by cheque the following; P. Best 165; T. Still 100; G. Lime 180.
31 We returned goods to T. Still 40.
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