Question One You have been provided with the following transactions of Kofkans Enterprise for the month of March 2021. March 1 2 3 4 5 7 8 10 12 Transactions Balance brought forward: Cash in Hand: GHc6000, Bank: GHC 10,000 Received GHc20,000 from Ayongo Bought goods of GHc120,000 Bought Motor Van paying by cheque GHc11,600 Cash withdrawn from the bank GHc25,000 Paid Wages in Cash GHc1,000 Cash Drawings GHc3,000 Cash Sales paid directly into the bank GHc28,000 We paid the following Accounts by cheque less 15% discount in each case: Aba : GHc2,000: Serwaa : GHc1,600 Efe : GHc1,800 The following paid us their Accounts by cheque in each case deducting 2% Discount: Essiam :GHc980 Wonsom: GHC 450 Received a Loan of GHc2,500 by cheque We paid Adade his account of GHc600 by Cheque Cash Sales GHc10,000 Paid Rent in Cash GHc1,800 Received Commission By cheque GHc8,500 The following persons paid us their accounts by cheque in each case deducting 3% Discount : Akawe GHC400; Alatiawe : GHc5,000 13 15 16 18 21 23 25 Required: Using the three-column cash book, show the closing balances for; a) Cash b) Bank c) Discount allowed d) Discount Received