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LET LOVE LEAD Ltd is a bakery which operates a number of branches across the country and with its head office at Cape Coast. Goods

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LET LOVE LEAD Ltd is a bakery which operates a number of branches across the country and with its head office at Cape Coast. Goods supplied to the branches are charged out at cost plus 33.25%. Each branch maintains Trade Receivables ledger. The following information relates to the branch at Bogoso for the year ending 31s December, 2020 Credit Sales GHC24,550 A consignment of groceries(goods) sent to Head Office on 31si December, 2020 amounting to GHC 500 was not received until 5t January, 2021 and therefore was not included in stock. Required: a. Account for the transactions in the relevant ledgers b. Prepare the statement of income for the year ending 31tt December, 2020

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