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Please before answering this ,read the whole question carefully and please surely answer all the 3 parts (a,b,c) of this question. Question No: 3 William

Please before answering this ,read the whole question carefully and please surely answer all the 3 parts (a,b,c) of this question.image text in transcribed

Question No: 3 William Scott had the following balance on September 1, 2021 for his lifestyle brand 'Splash Fashion House Ltd: Cash $70,000, Furniture $150,000, Accounts Receivable $95,000, Accounts payable $40,000 and share capital 5,000 shares @ $55 each. During the month, the following transactions were completed: Sept 3: Shareholders purchased additional 1,500 shares of each $55 in cash payment. Sept 10: Purchased clothes of $55,000 in which 40% has been paid in cash and for the rest 2/10 net 30 discount term has been imposed. Sept 14: A bill was received for selling goods on account from a company of $3,000. Sept 17: Payment has been done to the accounts payable (related to Sept 10). Sept 27: Salaries & wages expense for $ 35,000 which will be paid on later period. a) Present the journal entries for the above transactions. b) Post the journal entries to the ledger. c) Present a trial balance from the ledger accounts

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