The following transactions by Dabbing Enterprises took place in the month of February 2017. 1. Dabbing started his business with N645,500 cash and a motor vehicle with a value of N50,000 2. Made a deposit of #350,000 cash to the business bank account. 3. Bought goods from Adesopo with a selling price of $47,500 and was granted a 6% trade discount by cheque. 4. Withdrew cash of #153,000 from the bank for the business use. 5. Bought #251,000 worth of goods from Oretuyi on credit and received 12% cash discount. 6. Paid N18,000 cash to settle electricity bill for the month. 7. Sold N75,500 goods to Orelope on credit. A discount allowed of 10% was granted if payment is made on or before 20" February. 8. Sold goods amounting to #478,000 receiving cheque. 9. Withdrew N57,800 cash from the business bank account to pay his son's hospital bill. 10. Returned goods amounting to #10,200 to Oretuyi. 11. Paid N150,000 cash to Oretuyi as part settlement of his debt. 12. Orelope paid $25,000 cash and #40,000 cheque on 25" February. 13. Paid cash: N32,000 salary to the business staff and $25,000 salary to himself 14. Dabbing personal dividend received of #15,500 was paid into the business bank account 15. Settled his debt to Oretuyi after deducting a 12% cash discount with cheque You are required to: (a) Post the transactions into the appropriate ledgers and (b) Extract a trial balance