P.Smith,a sole proprietor,presented the following list of selected account balances.

Balances as at 31December 2017

	$	$
Bank	1750	DR/CR
Purchases	2750
Sales	12500
C.John	500	DR
T.Chan	300	CR
Discounts allowed	75
Discounts received	150

(A) Open the appropriate accounts for each account listed,and record the balances brought forward at 1 January 2018.

During the month of January 2018,the following transactions were recorded for P.Smith.

2 January A cheque for $460 was received from C. John in full settlement of his account.P.Smith gave him a discount for early settlement of the account.

3January P.Smith received an invoiced for $950 from T.Chan for inventory bought on credit.

9 January An invoice was prepared for C.John, totalling $600,for goods delivered on credit.

17 January P.Smith issued a cheque for $1100 to T.Chan.This was in full settlement of his account,as P.Smith was entitled to a discount from T.Chan for the 3 January Transaction.

25 January P.Smith Withdrew $900 from the bank for his own personal use.

31 January P.Smith purchased a used car from VROOM Ltd $30000 on credit.

B (I) Record the transactions given above for January,using the accounts previously opened for Question (A).You may open any other accounts(s) you deem necessary for recording the given transactions.

(II) Balance off,Total and rule the Bank Account at the end of the month.

C(I) Using the account of T.Chan,Calculate the amount of the 17 January cheque which applied to the purchase of 3 January.Show all working Clearly.

(II) Calculate the percentage discount that P.Smith received with respect to the T.Chan's Transaction on 3 January,and its Subsequent settlement on 17 January.Show all working Clearly.