Question 12 [CLO 1](Total 52 marks) You have been hired as an accountant for Mary Sue, a Sole Trader. She has presented you with the following month of May, 2021: May 1- Balance b/d - Cash $8,000, Bank $14,000, Loan $3,000 May 2- Sold goods on credit: Jerry $3,500 May 8-Purchases goods on credit from Curry $4,000 May 12-Paid Curry by cash after deducting 10% trade discount. May 17 Received full amount due from Jerry by cash less 20% trade discount. May 23 Paid Electricity bill for $1,000 by cheque You are required to: a. b. C. Journalize the transactions. (16 marks) Post the entries in the relevant ledgers. (27 marks) Extract a Trial balance for the month. (9 marks)

Question 12 [CLO 1](Total 52 marks) You have been hired as an accountant for Mary Sue, a Sole Trader. She has presented you with the following month of May, 2021: May 1-Balance b/d - Cash $8,000, Bank $1.4,000, Loan $3,000 May 2 - Sold goods on credit: Jerry $3,500 May 8 - Purchases goods on credit from Curry $4,000 May 12-Paid Curry by cash after deducting 10% trade discount. May 17 - Recelved full amount due from Jerry by cash less 20% trade discount. May 23 - Paid Electricity bill for $1,000 by cheque You are required to: a. Journalize the transactions. (16 marks) b. Post the entries in the relevant ledgers. (27 marks) c. Extract a Trial balance for the month. ( 9 marks)