1. Prepare 'T' accounts to show a stationery purchase. Use a transaction date of 18^thJanuary and an amount of $17.99.
2. Prepare the 'T' accounts to show the stationery purchase above using a trade account (where the organisation receives goods on credit and pays later).
3. Prepare the 'T' accounts to show payment for the stationery received on credit (transaction occurred on the 31^stJanuary). You will need to copy the accounts receivable T account from question 2 before adding the payment.