Enter the following transactions in the ledger of A Baker and prepare a trial balance at 31 May, together with a calculation of the profit for the month and a balance sheet at 31 May.

May 1 Started in business with 1,500 in the bank and 500 cash

May 2 Purchased goods to the value of 1,750 from C Dunn, agreeing credit terms of 60 days

May 3 Bought fixtures and fittings for the bakery for 150, paying by cheque

May 6 Bought goods on credit from E Farnham for 115

May 10 Paid rent of 300 paying cash

May 12 Bought stationery cash book and invoices for 75 paying by cash

May 14 Sold goods on credit, value 125, to G Harlem

May 20 Bought an old van for deliveries for 2,000 on credit from I Jumpstart

May 30 Paid wages of 450 net for the month by cheque, Inland Revenue deductions of 75 to be paid in the following month

May 31 Summarised cash sales for the month and found them to be 2,500. Took a cheque for 500 as own wages for the month. Banked 2,000 out of the cash sales over the month

May 31 Closing stock was 500