Question
Record the transactions in the books of Kwasi Asante the month of January, 2021 and extract a trial balance. Jan. 1 Started business with 10
Record the transactions in the books of Kwasi Asante the month of January, 2021 and extract a trial balance. Jan. 1 Started business with 10 million cash and 20 million in his bank account Jan. 5 Bought goods for resale, 15 million from Osafo Jan. 15 Cash sales of 20 million. Sold goods and received cheque of 5 million Jan. 17 Sold goods to Yeboah, 5 million Jan. 18 Purchases from Appiah 20 millon Jan. 20 Sales to Ofosua, 30 million Jan. 25 Paid Osafo with a cheque, less 2 % cash discount. Yeboah settled his account With cash less 2 % cash discount Jan. 26 Paid Appiah with cash less 5% cash discount Jan. 27 Ofosua settled her account with a cheque less 5% cash discount.
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