Q3. Mr. Edem resigned from his formal employment on 31st December 2017 and started business as a cement distributor on 1st January 2018 with an initial capital of GHS30,000 cash. The following is a summary of his business transactions during the first six months of trading: 1. A delivery van was bought on 1st January, 2018 at a cost of GHS18,000 (payment effected immediately). It was estimated to have a life span of 5 years at the time of purchase. Il. During the period, suppliers were paid GHS64,000 for cement and invoices totaling GHS16,000 remained unpaid at 30th June, 2018. III. Cash sales totaled GHS 70,000. IV. Credit sales amounted to GHS32,000 and GHS6,000 out of this amount was outstanding as at 30th June 2018. V. A full year's rent of GHS 18,000 was paid on the commencement of the business. VI. An amount of GHS 12,000 was paid for sundry operating expenses. Bills for electricity and telephone (both constituting part of the sundry expenses) for June 2018, estimated at GHS100 and GHS300 respectively, had not been received as at 30th June, 2018. VII. During the period, Edem withdrew cash of GHS4000 from the business for his private use. VIII. The stock of cement at close of business on 30th June 2018 was valued at cost at GHS7000. You are required to: (a) Write up the ledger accounts including Cash. (b) Extract the Trial Balance as at 30th June 2018