Question
The information below relates to Adomako Boamah a trader, for the month of April 2008 April 1: Bought from Nitex Ltd.: 100 bags of cement
The information below relates to Adomako Boamah a trader, for the month of April 2008
April 1: Bought from Nitex Ltd.: 100 bags of cement @ GH4,000 each 50 bags of white cement @ GH5,000 each 1000 iron rods @ GH6,000 each Invoice subject to 10% trade discount
April 5: Sold to Fokuwaa and Sons: 10 bags of cement @ GH5,500 each 30 iron rods @ GH7,000 each Invoice subject to 15% trade discount
April 6: Return 10 bags of white cement to Nitex Ltd because they were inferior quality, received credit note.
April 7: Sold to Tettey: 10 bags of white cement @ GH7,000 each 50 iron rods @ GH6,800 each Invoice subject to 15% trade discount
April 10: Fokuwaa and Sons returned 5 bags of cement and 10 iron rods of the sale on April 5. April 12: Sold to Ferno: 200 iron rods @ GH6,500 less 10% trade discount 40 bags of cement @ GH4,500 each 5 bags of white cement @ GH8,000 each
April 14: Bought from Anaco Ltd.: 2000 packets of filler @ GH500 each 1000 tins of putty @ GH600 each 3000 metres PVC pipes @ GH1,000 per metre
April 25: Bought from Paint Products Ltd.: 2000 gallons of white paint @ GH3,000 each 3000 gallons of blue paint @ GH3,250 each 500 gallons thinner @ GH1,000 300 brushes @ GH850 each Invoice subject to 10% trade discount
April 25: Claimed and was allowed a reduction in price for faulty goods delivered by Anaco Ltd. for which a credit note was received for GH50,000
April 29: Claimed on Paint Products Ltd. for paint empties retuned and was allowed GH60,000
You are required to prepare: (a) Sale Journal (b) Purchase Journal (c) Return Inward Journal (d) Return Outward Journal (e) Post each item into individual ledger account (f) Post the total of the journal to the general ledger.
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