Only journal entries

1. Open Customer, Vendor and Inventory Account
2. Make the Journal Entries
3. Show the Ledger, Trial Balance of each account
4. Show Income Statement and Balance Sheet

CASE STUDY Royal Computers & Mobiles (a wholesale distribution business) On 14 January 2021, Mr. Asad started on 4 January, be bought a shop for the business Rs. business with cash R 6,000,000 - On 3 1 1,500,000 - and issued a cheque. On 5 January, he bought January, be opened an account with Meezan the following assets: Barik and deposited Rs. 4,500,000 - ! Fumiture & Fixtures R 110.000- Office Equipments R: 35,000 On 6 January, be paid Rs 5.000.- for streamers, Rs. 5,000 - for banners, Rs. 15,000 - for a hoarding and Rs. 10,000 - for main sa board On 7 January, he bought the following goods for resale purposes (a) Mobiles Supplier Inventory Price (Rs) Oty Nokia NX-100, Black 7,000- 100 Samsung S-A-31 5,000- 770 (b) Computers Ots. Supplier Dell Compaq HP Inventory D-7070, Black Tower C-Silcom, White Desktop HP 6300, Black Desktop Price (Rs.) 10,000 - 12,000 - 0.000- 30 20 15 On the same date amount paid to all vendors on the same date except Nokia zgainst purchase of mobile phones 50% amount paid to Nokia Total sale of the month is as follow: Date Customer Product Price Rs.) Otv. 8.01.2021 Usman Mobile NX-100, Black S. 45 9.01.2021 Tanveer Computers D-7070, Black 11,000 20 10.01.2021 Hassan Communication S-A-31 5 300- 40 12.01.2021 My Computers C-Silcom, White 14.000- 20 13.01.2021 The Best Computer HP 6300-Desktop 10.000- 12 Amount received from all customers except Uma Mobiles against sale of mobile phones. Usman Mobiles paid only 50% of amount On 20 February, he paid the following expenses: Salary to Sales Staff Rs. 25,000 Utility Bills Rs. 20.000.- Travelling Expenses Rs. 5,000