Question 3

Enter the following in the two column cash book:

September 1. Sam started business with cash capital N$ 2000

2. Sam Deposits the money in to the bank N$1500

2. He buys goods by cheque N$ 800

4. He pays rent by cheque N$200

5. He sells goods for cash N$150

6. He deposits N$150

7. He pays cash for telephone N$20

23. Sam withdraws from the bank for office use N$60

28. He draws money from the bank for private use N$90

Required:

Draw up the cashbook for Sam for the month of September 2018. Balance the cash book and post it to the ledger. (25 marks)