Prepare 1.Journal Entries 2.Ledgers 3.Trial Balance 4. Trading A/c & Profit and Loss A/c 5.Balance Sheet

(1-Apr) Michael started a business with cash 600,000, cash at Bank of America 700,000, furniture 200,000. (1-Apr) Purchased Plant & Machinery worth 250,000 by cheque. (25-Apr) Purchased goods from ABC Ltd worth 800,000 @10% trade discount. (5-May) Cash Sales 1,000,000 @5% trade discount to XYZ Traders (15-May) Deposited cash with Bank of America 500,000. (5-Jun) Paid ABC Ltd 300,000 in cash. (10-Jun) Received commission 75,000 by cheque. (25-Jun)Cash Purchases 250,000. (5-Jul) Sold goods to XYZ Traders 475,000. (15-Jul) Received 275,000 by cheque from XYZ Traders. (5-Aug) Loan taken from Bank of America 200,000 (25-Aug) Purchased goods from ABC Ltd 50,000. (27-Aug) Withdrew cash from bank 10,000. (5-Sep) Received commission 55,000 in cash. (10-Sep) Paid ABC Ltd 70,000 by cheque. (20-Sep) Received 90,000 in cash from XYZ Traders. (1-Oct) Bank loan repaid 50,000. (25-Oct) Cash Purchases 25,000. (5-Nov) Sold goods to XYZ Traders 47,000. (15-Nov) Withdrew cash from bank 15,000. (5-Dec) Received interest from bank 5,000. (25-Dec) Purchased goods from ABC Ltd 75,000. (5-Jan) Cash Sales 100,000. (15-Jan) Deposited cash with Bank of America 35,000. (25-Feb) Cash Purchases 450,000. (28-Feb) Office was taken on rent in the month of Feb. Office rent paid in cash 50,000. (28-Feb) Employees were hired in the month of Feb. Paid salary by cheque 30,000 & cash 30,000 for the month of Feb 202. (5-Mar) Sold goods to XYZ Traders 675,000. (31-Mar) Paid office rent by cheque 50,000. (31-Mar) Paid salary in cash 30,000 for the month of March 202.