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The following transactions recorded in Rani's book of accounts during the week ending 6th May 2022 and perform Opening Cash balance *2,240 and Opening
The following transactions recorded in Rani's book of accounts during the week ending 6th May 2022 and perform Opening Cash balance *2,240 and Opening Bank overdraft balance is *3,360. May 1 - Sold 1,600 worth of goods to Raju on credit May 1 - Withdrew *5,000 cash from the bank for business use May 2 - Purchased goods priced at 3,800 from Charu, on credit, less 15% trade discount May 2 - Repaid debt of $1,200 owed to Ravi, taking advantage of a 10% settlement discount. The payment was by cheque. May 3- Sold 4,500 worth of goods for cash May 4- Sold *8,000 worth of goods to Maya on credit, offering a 12.5% discount if payment was made within 7 days. Rani expects Maya to take up this discount May 4- Paid a telephone bill for *210 by cheque May 4- Purchased 4,000 worth of goods on credit from Dubey May 5- Received a cheque from Harish for *1,800 May 5- Sold 3,400 worth of goods to Mohan on credit May 5- Purchased *1,500 worth of goods from Patel Brothers by cheque May 6- Received a cheque from Dhara Singh for *4,820 May 6- Purchased 1,000 worth of goods on credit from Ganesh Required-Tasks Task 1 What is the total of sales during the week? Task 2 What is the total of purchases during the week? Task 3 What is the profit for the week?
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