QUESTION ONE From the following information below extracted from the books of Nsokuronsuo, a sole trader, prepare a three column cash book, post the transactions to their respective ledgers and extract a trial balance for the month of July. July 1: Balance brought forward: Cash GH448,000; Bank GHe 165,000. 3: Credit purchases from Abusun Dwarfs GH36,000. 5: The following paid him by cheque in each case deducting a 7.5% cash discount. Olympics GH24.000, Kotoko GH15,000 and Hearts GH28,500. 7: Paid the following expenses by cheque: Insurance GH49,000, Rent and Rate GH 16,500 and Electricity GH7,500, 9: Cash Sales GH67,500. 11: He paid the following accounts in cash in each case deducting 15% cash discount: Chelsea GH424,000, Arsenal GH15,000 and Man United GH 19,500. 13: Cash Sales GH49,500 immediately banked. 13: Sales made to Palm Wine Tappers GH451,600. 15: Paid Water bill GH30,000 by cash. 15: Bought Property, Plant and Equipment GH75,000 by cheque. 19: Paid Abusun Dwarf's account in full GH30,000 by cash. 21: Withdrew cash from the bank for business use GH55,500 21: Palm Wine Tappers paid their account in full GH48,000 by cheque 23: He paid the following by cheque: Messi GHe 16,500 less 30% cash discount Ronaldo GH13,500 less 22.5% cash discount and Mbappe GH49,000. 25: Bought Machine by cheque GHe75,000 Lecturer: Hon. Richmond Sam-Quarm 1 | Page 29: Cash Purchases GH52,500. 30: Cash Sales GH45.750