1. Record the following transactions for the month of January of a small finishing retailer,

balance off all the accounts, and then extract a trial balance as at 31 January 20X8:

20X8

Jan 1 Started in business with 10,500 cash.

2 Put 9,000 of the cash into a bank account.

3 Bought goods for cash 550.

4 Bought goods on credit from: T Dry 800; F Hood 930; M Smith 160; G Low 510.

5 Bought stationery on credit from Buttons Ltd 89.

6 Sold goods on credit to: R Tong 170; L Fish 240; M Singh 326; A Tom 204.

8 Paid rent by cheque 220.

10 Bought fixtures on credit from Chiefs Ltd 610.

11 Paid salaries in cash 790.

14 Returned goods to: F Hood 30; M Smith 42.

15 Bought van by cheque 6,500.

16 Received loan from B Barclay by cheque 2,000.

18 Goods returned to us by: R Tong 5; M Singh 20.

21 Cash sales 145.

24 Sold goods on credit to: L Fish 130; A Tom 410; R Pleat 158.

26 We paid the following by cheque: F Hood 900; M Smith 118.

29 Received cheques from: R Pleat 158; L Fish 370.

30 Received a further loan from B Barclay by cash 500.

30 Received 614 cash from A Tom.