Romeo Shakespeare is a retailer of love potions, which he sells in the Papen Market in St Thomas.

2020

1. The following details were obtained from the books of Jessica Bailey, a retailer located in Kingston

May 1	Started the business with $40,000 in the bank and motor van $60,000
May 4	Bought merchandise for $35,000 on credit from Maynard Distributors
May 5	Sold merchandise for $20,000 on credit to N Bell
May 12	Sold merchandise $20,000 by cheque
May 18	Returned merchandise $6,000 to Maynard Distributors
May 20	Bought furniture $5,000 cheque
May 21	Sold merchandise $32,000 on credit to Bongo Natty
May 22	Bought merchandise $25,000 on credit from Kings World
May 25	Paid for office expenses $7,000 by cheque
May 26	Paid wages $35,000 by cheque
May 27	Received $20,000 by cheque from N Bell
May 28	Took merchandise amounting to $15,000 for personal use

Requirements:

1. Enter the transactions in the general ledger (t-accounts), and balance off these accounts

(15 marks)

2. Extract a Trial Balance (5 marks)