QUESTION 6 Big Sparkle is an electrical goods wholesaler. The transactions during June 20X3, which are all on credit, were as follows:

1 June Bought on credit from Lightings Ltd various bulbs with a retail price of N1,000,000 and received 20 per cent trade discount 4 June Sold goods on credit to Electric Reserves Ltd for N500,000 and allowed them 10 per cent trade discount on this amount 8 June Sent Electric Reserves Ltd a credit note for goods returned that had a retail value of N300,000 10 June Sold goods on credit to Swiggle Ltd for N600,000 after deducting 40 per cent trade discount 12 June Purchased goods with a retail value of N1,000,000 from Swatch Ltd who allowed 30 percent trade discount. 15June Purchases on credit from Cables Ltd goods costing N550,000. 16 June Sent Swiggles Ltd a credit note' for goods returned that had a retail value of N100,000. 18 June Swatch Ltd sent us a credit note for N300,000in respect of goods returned 19 June Received a credit note for goods returned to Lightings Ltd that had a retail value of N250,000 25 June Sold goods to Gross Retails Ltd on credit for N250,000 27 June Sent Gross Retails Ltd a credit note for N50,000 to rectify an overcharge on their invoice 28 June Sold goods on credit to Electric Reserves Ltd at a price of N569,000. 29 June Purchased on credit a motor van from Baba Ltd that cost N800,000. 30 June Sold on credit to Lagos Trading Co. some fixtures and fittings no longer required in the shop for 350,000. (Prior. to this the business owned fixtures costing N1,000,000.)

Required Make the necessary entries in the books of prime entry indicating the dates, names of customer/suppliers and the amount. (15marks).