Question
The following transactions occurred during the month of August 2021 which affect your trust account. August 1-31, 2021 Aug 1 L. Jones Bailey paid a
The following transactions occurred during the month of August 2021 which affect your trust account.
August 1-31, 2021
Aug 1 L. Jones Bailey paid a retainer of $1,000 (money order).
Aug 1 R. Smythe paid a retainer in the amount of $1,000 (bank draft)
Aug 1 L. Forte paid a retainer to in the amount of $500 (cheque #48).
Aug 3 Paid Quick Messenger $20.80 (HST included) with trust cheque #20 for deliveries on the L. Jones Bailey file.
Aug 4 Paid Ann Litigate $500 from the trust account (trust cheque #21) from the L. Jones Bailey account to pay the balance outstanding on invoice #401.
Aug 5 Paid Minister of Finance from the trust account, $100 (trust cheque #22) on the L. Forte file to set matter down for trial.
Aug 6 Paid Ann Litigate out of trust account (trust cheque #23) on the L. Jones Bailey file to reimburse her for $120 paid for court filing fees on July 7 out of her General Bank Account.
Which of the above transactions is an issue for your practice? Identify the transaction by providing the date on which it occurred and describe the issue you have found.
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