QUESTION 1 Kara started a business on 1/1/2016 dealing in building materials. The transactions below relate to

the month of January, 2018. Jan. 1 Bought the following on credit from AB Ltd: 100 bags of cement at GHS 4,000 each. 50 bags of white cement at GHS 5,000 each 1,000 iron rods at GHS 6,000 Invoiced subject to a 10 % trade discount. Jan. 5 Sold the following to F& S Ltd: 10 bags of cement at GHS 5,500 each 30 iron rods @ GHS 7,000 each All invoiced are subject to a 15 % trade discount. Jan 6 Returned 10 bags of cement to AB Ltd because they were of inferior quality. Jan 6 Received credit note from AB Ltd in respect of goods returned. Jan 7 Sold the following on credit to Kate: 10 bags of white cement @ GHS 7,000 each 50 iron rods @ GHS 6,800 each All invoiced to 15% discount Jan 10 F&S Ltd returned 5 bags of cement, and 10 iron rods out of the sales on Jan. 5th Jan 12 Sold the following to Amissah on credit: 200 iron rods @ GHS 6,500 less 10% trade discount 40 bags of cement @ GHS 4,500 5 bags of white cement @ GHS 8,000. Jan 25 Bought the following on credit from KK ltd: 2,000 gallons of white paints at GHS 3,000 each. 3,000 gallons of blue paints at GHS 3,250 each. 500 gallons thinner at GHS 1,000 each 300 brushes at GHS 850 each All invoice subject to 10% trade discount. Jan25 Made a claim for faulty goods delivered by KK ltd and a credit note was received for GHS 50,000. Jan 29 Made a claim for faulty goods delivered by P&P Ltd and a credit note was received for GHS 60,000. You are required to write up : (a) The sales Journal