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Required: Open the necessary T-accounts for the above transactions Balance the T accounts Mr. Etornam Kwame William started a small trading business in Kumasi somewhere

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Required: Open the necessary T-accounts for the above transactions Balance the T accounts Mr. Etornam Kwame William started a small trading business in Kumasi somewhere at the beginning of 2018. Etornam registered his business as sole proprietor under business name known as BEK Ventures. Below are details of the business transactions for the month of July, 2018: July Started the business with a cash of GHe 10,000.00 2 A business account was opened with Merchant Bank Ghana Ltd at the Rain Tre Avenue, Kumasi branch with GHe9,000.00 3 Put up a shop at Abenkyi market at a cost of GHe 1,000.00 for which he paid wit a cheque drawn on his bankers Bought on credit trading stocks from Megyefo Comapany Lid amounting to GH 15,000.00 S Paid GHe250 cash to the driver who transported the items from Accra to Kuma for him 10 He returned some of the stocks which were not of the expected quality amountin to GHe 500.00 11 Sold goods for GH$3,000.00 cash 13 Sold goods on credit to Master Atta & Co for GHe5,000.00, MVP Ltd GHe6,50 15 Sold goods on credit to Master Atta & Co for GHe6,500.00 17 Received cheque payments from Master Atta & Co for GHe 10,000.00 and MY Lid for GHE6,500.00 for goods purchased 18 Paid Megyefo Comapany Led a cheque of GHe 15,000.00 19 Received goods worth GHc12,650.00 from Megyefo Comapany Lid 20 Paid GH:350.00 to the driver who brought the items from Accra to Kumasi 21 Paid Megyefo Comapany Led for goods delivered Sold goods for GHe 18,120.00 to cash customers 23 Banked all sales proceeds Cash customer returned some goods bought amounting to GH@ 100.00 refunds since was not the colour they requested 30 Paid wages & salaries to his workers GHe 1,100.00 Reon

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