Prepare T accounts and a trial balance for John Deel, a market trader, who has provided you with the following information relating to his first year in business:

Opened a business bank account with £1,500 of his own capital.

Paid £1,200 for a stall and scales.

During the year he purchased goods worth £17,000 from A.

Wholesaler on credit.

Received £28,000 from cash sales to customers during the year.

He hired a van for business use at a cost of £300 per month inclusive of all running costs.

During the year he made drawings of £6,000 cash to live on.

Paid A. Wholesaler a total of £16,000 during the year.

He had no stock left at the year-end.

Assume there was no depreciation.

Trial balance Fixtures and fittings a/c 6,300 Capital a/c 6,000 Purchases a/c 47,200 Creditors a/c 3,500 Wages a/c 22,700 Sales a/c 86,500 Rent, rates, electricity a/c 7,300 Sundry expenses a/c 2,700 Bank balance 9,800

£96,000 £96,000