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solve the ledger account Mr. Ibrahim started his grocery stores with an Investment of RO 60,000 and took a Loan of RO 75,000 from Oman

solve the ledger account

Mr. Ibrahim started his grocery stores with an Investment of RO 60,000 and took a Loan of RO 75,000 from Oman Development Bank. In the year 2019, he could able to achieve Credit Sales of RO 185,355 resulting Accounts Receivable of RO 55,455, Discount Allowed to customers worth 15,225 and Commission Paid to Sales Directors of RO 12,365. Ibrahim Purchased RO 126,550 worth of grocery items on short term credit from suppliers, where at the year end the Accounts Payables of RO 39,565 were left due. He constructed Grocery Stores Building with a cost of RO 87,945. He also purchased Transportation Vehicles for RO 35,450 before the start of his business. He paid Salaries worth RO 15,000 and Shop Maintenance Charges worth RO 2,500 for the year 2019. He is also Receiving a Rent of RO 500 per month for allowing Bank Muscat to keep their ATM in his grocery stores. At the end of the year he had Liquid Cash in his counter worth RO 15,430.

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