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On 1 January 2020, T Mint opened a supermarket trading under Mint Supermarket. He uses the periodic inventory system and enters into the following transactions
On 1 January 2020, T Mint opened a supermarket trading under Mint Supermarket. He uses the periodic inventory system and enters into the following transactions for the month ended 31 January 2020: Date Transactions Amount 2020 R Jan 02 T Mint deposited capital into the business bank account. 30 000 Bought merchandise cash. 7700 04 Cash sales on the opening day. 20 500 04 Bought merchandise on credit from the following wholesalers: 07 HD Dealers 5 850 AD Wholesalers 6 050 Issued invoices to the following customers for goods sold on 11 credit: T Tan 995 D Dan 1 505 Issued a cheque to AD Wholesalers 3 500 22 24 Paid the following by cheque: Wages Electricity Merchandise was returned to AD Wholesalers . 5 000 2 500 400 25 REGENT BUSINESS SCHOOL (RBS) ACADEMIC AND ASSESSMENT CALENDAR - JANUARY 2021 22 BACHELOR OF COMMERCE IN HUMAN RESOURCE MANAGEMENT YEAR 1 - DISTANCE Required: 1.1 Prepare the Cash Receipts Joumal for the month ended 1.2 Prepare the Cash Payments Journal for the month ended. (6) (0)
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