May 1 Started business with a cheque of GHS5,000.

2 Withdrew GHS2,000 cash from bank for business use. 3 Paid rent GHS500 with cash.

4 Bought teaching supplies for GHS50 cash.

5 Paid advertising expense GHS100 by cheque.

9 Bought five text books at GHS50 each with a cheque.

12 Bought fixture of GHS400 from Melcom on credit. 15 Received GHS15,000 cash as tuition fees.

18 Tuition fees owing GHS25,000.

26 Paid salaries for GHS2,500 by cheque.

28 Paid electricity expense GHS150 with cash.

30 Deposited cash of GHS14,000 into bank account.

Required:

1. Journalize the above transactions

2. Post the journal entries to their respective accounts and balance off the accounts

3. Extract the trial balance as at May 31, 2020

4. Enter the relevant transactions into a cashbook and balance off the account