The following transactions have taken place in the business of F Bloggs in January 2017 which was the first month of trading:

2/1/2017 F Bloggs invested 4,000 cash in the business.

2/1/2017 Purchases on credit from Tewson Co.

400 3/1/2017 Sale to J. Spalding on Credit

200 4/1/2017 Purchases on Credit from Manley & Co 350

5/1/2017 Cash received from J. Spalding 200

5/1/2017 Sales on Credit to G. McGregor 400

6/1/2017 Cash sale to J. Smith for 500

6/1/2017 Payment to Manley & Co 350

6/1/2017 Cash taken for Petty cash purposes 50

8/1/2017 Sales on Credit to J Spalding 400

8/1/2017 Cash paid to Digby Co 1,000

14/1/2017 Sales on Credit to G. McGregor 300

16/1/2017 Purchases on credit from Manley & Co 200 Requirements

1. Record the above transactions in the relevant Books of Prime Entry

2. Prepare the Memorandum ledgers i.e., the Sales Ledger and the Purchases Ledger

3. Prepare the Trade Receivables and the Trade Payables accounts

4. Extract the balances from the Sales Ledger and agree to the closing balance on the TRs account

5. Extract the balances from the Purchase Ledger and agree to the closing balance on the TPs account