The following are the transactions of Kellogs Ltd for the month of January. January l Capital paid into Bank 3,00,000

January 1 Bought Stationery for cash 400

January 2 Bought Goods for cash 25,000

January 5 Sold Goods for Cash 10,000

January 6 Bought Office Furniture from Master Bros. 40,000

January 11 Sold goods to Jacob 12,000

January 12 Received cheque from Jacob 12,000

January 14 Paid Master Bros. by cheque 40,000

January 16 Sold goods to R & Co 5,000

January 20 Bought from S & S Corp 15,000

January 23 Bought Goods for cash 22,000

January 24 Sold Good to P & Sons 17,000

January 26 R & Co. Paid on account 2,500

January 28 Paid S & S Corp. by cheque in full settlement 14,800

January 31 Paid Salaries 2,800

January 31 Rent is due but not yet paid 2,000 .

Journalise these transactions and then prepare Profit & Loss and Balance Sheet for the following.