LYH Enterprise started business on 1 October 2017 with $180,000 in the business bank currentaccount and $5,000 cash The business provides you with the following transactions during October 2017:

October

oct 1- Paid for October shop rental by cheque $6,000 oct 2- Bought furniture and fittings $9.000 by cheque oct 3- Purchased stationery for office use by cash $200 Oct 7- Bought goods by cheque $45,000 Oct 10- Purchased goods for on credit from PJF Ltd $24000

oct 11- Cash sales banked in $12,000 oct 12- Sold goods on credit to RET Enterprise for $14.000 Oct 16- Paid wages $1,500 by cash Oct 19- Goods returned by RET Enterprise $4.000 oct 26- Goods sold on credit to Wu Company $33.600 oct 30- Received cheque from RET Enterprise $10,000 less discounts allowed $400

Note: Inventory as at 31 October 2017 was valued at $43,000 REQUIRED: (a) Prepare ledger accounts to record the above transactions (b) Extract a trial balance as at 31 October 2017 (c) Draw up an income statement for the month of October 2017 (d) Construct a balance sheet as at 31 October 2017