Kgosi BnB is an entity that run a hospitality operation. Kgosi sales bed and breakfast to a wide range of people. The entity was started by a graduate from Botho University just after finishing their Hospitality degree. The student received a grant from the Citizen Entrepreneurial Development Agency (CEDA) and thus it is important that she monitors her cashflows. During the month ended 31 October 2023 the following cash transactions were done:

October 2023

1  There was a bank overdraft balance of P7,630 and a cash balance of P 4,895 

3  Sold goods for P8,850 and the customer paid with a credit card.

5  Kgosi BnB paid for their vehicle road license of BWP1,890 cash.

6 Cash sale P9,750

8 The following trade receivables settled their accounts through bank cheques and Kgosi allowed a settlement discount of 5.5% on each balance: Kutlo P12,400; Kaone P6,800; Katso P12,600 (these trade receivable balances are before settlement discount). 

9  Kgosi limited received a cheque for insurance claim of P5,560 from Botswana life.

10  The business bought an Equipment P127,500 from Naledi enterprises and the payment is to be made in two weeks.

10  Payments were made to the following trade payables through the bank and settlement discount of 4% was received; Olebogeng P7,100; Elba P4,500; Janet P3,600 (the above outstanding balance are pre-discount). 

12  The owner of Kgosi limited transferred P1,350 to his brother’s account.

14 Cash in hand of P 2,700 was deposited in business bank account.

17 Cash of P3,500 was withdrawn from the bank and allocated to petty cash.

20  The owner of Kgosi used his inheritance to purchase a company vehicle of P25,360

25  P4,245 was taken from the bank for business use.

28 Acquired an office equipment for P9,640

Required:

 Prepare a three-column cashbook for Kgosi for month ended 31 October 2023 and balance it, clearly showing balance brought forward in following month.