SEDRA EBRAHIM, just graduated from the eminent management university in Northern Malaysia, opened her own shop named GREENYIELD in September 2020. She brought in her own car worth RM100,000 for the business use and cash of RM50,000.

The following transactions were completed in the very first month of operation:

September 1 Paid RM2,700 for three months rental starting from September 2020. Purchased exhibition racks and paid RM30,000 for the whole amount.

2 Purchased merchandise from TOP SUPPLIER for RM4,500, FOB shipping point, terms 2/15,n/30.

5 Paid freight on purchases from TOP SUPPLIER for RM120.

7 Purchased decorating merchandise from SMART SHOPPE for RM5,000. FOB destination, terms 3/10,n/eom.

8 Cash sales RM2,700. The cost of the merchandise sold was RM810.

9 Returned defect foam block to SMART SHOPPE costing RM400.

10 Sold merchandise totalled RM7,800 to ZHUL BRIDAL HOUSE. Terms 5/10, n/30. The cost of the merchandise was RM2,340.

11 Paid TOP SUPPLIER the full amount for purchases made on 2 September. SEDRA EBRAHIM took few sets of floral vases costing RM390 as a present for her friends.

15 Obtained a loan from COMMON BANK BERHAD for RM20,000 cash payable in 2 years.

17 Sold merchandise costing RM2,250 to HEBOH EVENT MANAGEMENT for RM7,500. Terms 5/10, n/30.

20 Paid SMART SHOPPE in full. Received payment from ZHUL BRIDAL HOUSE in full.

22 Sold merchandise to STUDENTS ETR CLUB for RM2,810 and received cash. The cost of the merchandise was RM850.

25 Purchased flower buckets and vases from TOP SUPPLIER for RM3,500, FOB shipping point, terms 2/10,n/30. Paid freight charges of RM100.

27 Paid RM300 to STUDENTS ETR CLUB for merchandise returned that costs RM100.

30 Paid utility bills totalled RM310 and RM3,100 for salary to employees. Purchased a one-year insurance policy starting from October 2020 for RM3,600.

At the end of the month, the following adjustments need to be made:

Rental expenses for the month; Vehicles are to be depreciated at the rate of 10% per annum;

Furniture are to be depreciated at the rate of 5% per annum;

and A total of RM370 salary remained payable at the end of the month.

YOU ARE REQUIRED TO:

Prepare an adjusted trial balance