Question one The following transactions were obtained from the books of wine wholesaler co ltd for the month of March 2021. Mar 1 Balances brought forward: Cash 620; Bank 7,142. Mar 2 The following debtors paid their accounts by cheque, in each case deducting 5 per cent cash discounts:G.Slick 260; Fish 320;T old 420 Mar 4 Paid rent by cheque 430. Mar 6 F. Black lent us 5,000 paying by cheque. Mar 8 We paid the following accounts by cheque in each case deducting a 21/2% cash discount: R. White 720; G. Green 960; L. Flip 1,600. Mar 10 Paid motor expenses in cash 81. Mar 12 J. Pie pays his account of 90, by cheque 88, deducting 2 cash discount. Mar 15 Paid wages in cash 580. Mar 18 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: A. Pony 540; B. Line & Son 700; T. Owen 520 . Mar 21 Cash withdrawn from the bank 400 for business use. Mar 24 Cash drawings 200. Mar 25 Paid W. Peat his account of 160, by cash 155, having deducted 5 cash discount. Mar 29 Bought fixtures paying by cheque 720. Mar 31 Received commission by cheque 120. Required: a) Xyzs three column cashbook for the month of March 2021. ( 16 marks ) b) Discounts in the general Ledger. ( 4 marks ) Question Two a) List and discuss any five concepts/principles of accounting ( 10 marks ) b) Identify and discuss five users of accounting information ( 10 marks) Question Three The following transactions were obtained from the books of Albano co ltd for the month of May 2020 May 1 Credit sales: T. Thompson 56; L. Rodriguez 148; K. Barton 145. May 3 Credit purchases: P. Potter 144; H. Harris 25; B. Spencer 76. May 7 Credit sales: K. Kelly 89; N. Mendes 78; N. Lee 257. May 9 Credit purchases: B. Perkins 24; H. Harris 58; H. Miles 123. May 11 Goods returned by us to: P. Potter 12; B. Spencer 22. May 14 Goods returned to us by: T. Thompson 5; K. Barton 11; K. Kelly 14. May 17 Credit purchases: H. Harris 54; B. Perkins 65; L. Nixon 75. May 20 Goods returned by us to B. Spencer 14. May 24 Credit sales: K. Mohammed 57; K. Kelly 65; O. Green 112. May 28 Goods returned to us by N. Mendes 24. May 31 Credit sales: N. Lee 55. Required: a) Prepare a sales, purchases, returns inwards and returns outwards day books ( 16 marks ) b) Post the items to the General Ledger accounts in the sales and purchases ledgers. ( 4 marks ) Question Four a) State two uses of a trial balance (02 marks) b) The following are transactions for Casino Co. Ltd in the month of May 2020. May 1 Started business with 1,500 cash and 18,000 in the bank. May 2 Received a loan of 4,000 from T. Fox by cheque. May 3 Bought a computer for cash 1,200. May 5 Bought display stands on time from Drop Ltd 840. May 8 Took 400 out of the bank and put it in the cash till. May 15 Repaid part of Fox's loan using the business debit card 1,000. May 17 Paid amount owing to Drop Ltd 840 by Internet transfer from the bank account. May 24 Repaid part of Fox's loan by cash 500. May 31 Bought a colour laser printer on time from P. Blake for 400. Required: i. Post the above transactions into the relevant ledgers and balance off accounts (14 marks) ii. Extract a trial balance.