QUESTION ONE

As at 30.3.20X7, your business has the following balances on its ledger accounts. Accounts	Balance
Bank loan	K000 12,000
Cash at bank	11,700
Capital	13,000
Local business taxes	1,880
Trade accounts payable	11,200
Purchases	12,400
Sales	14,600
Sundry payables	1,620
Trade accounts receivable	12,000
Bank loan interest	1,400
Other expenses	11,020
Vehicles During the year the business made the following transactions.	2,020

Bought materials for K1,000,000 half for cash and half on credit

Made K1,040,000 sales, K800,000 of which was for credit

Paid wages to shop assistants of K260,000 in cash

You are required to draw up a trial balance showing the balances as at the end of 30/03/20X7.