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Transaction 1 He sets up a business as a sole trader by introducing $20,000 imto a business bank scourut. 2 He pays rent for a
Transaction 1 He sets up a business as a sole trader by introducing $20,000 imto a business bank scourut. 2 He pays rent for a shop, $200 in cash. 8 He purchases delivery van for $1,000 paid in cash. 10 He purchases goods costing $5,000 on credit from Adam (invoice no Adam 123). 12 He sells goods for $5,000 in cash to John. 15 He sells goods for $3,000 on credit to Jack (invoice no Jack001) 24 He pays the amount, taking advantage of a 10% settlement discount with respect to invoice no. Adam 123. 25 Jack paid to Mr. Yannick, taking advantage of a 5% settlement discount with respect to invoice no, jack001. 28 He pays energy bill, $600 in cash. 30 He sells goods for $2,500 in cash. Required: 1- Enter the above transactions into an appropriate cash book. 2. Post the transactions direcrly to the appropriate nominal ledger accounts. 3- Prepare the trial balance as at October 31, 2019. [Marks: (10+10+6)=26]
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