iv. A declaration of authorship MUST be included in the project. Belles Retail Store sells affordable items in the Montego Bay area. The store was opened on 1* June 2020. The following information relates to the transactions for the first month of doing business. June 1 Started business with $50,000 cash and a motor vehicle valuing $80,000. 2 Received a cheque representing a loan from City Bank for $125,000. 3 Bought equipment by cheque $25,000. 3 Paid a cheque for $75,000 to cover the costs of goods bought for resale. 5 Received cash of $57,500 for goods bought from us. 5 We purchased an office desk on credit from S&L Office Supplies $82,500. 6 Sold merchandise on credit to Pearly Dress Shop $62,500. 8 Bought goods on credit from Maxwell Designers $46,000. 9 Sold goods on credit to Maxine's Dress Shop $37,500. 11 Paid cash of $7,500 for office stationery. 12 Returned defective goods to Maxwell Designers which costs $3,000. 14 Bought goods on credit from Star Creations $16,250. 14 Sold goods to Dreams Department Store receiving a cheque for $62,500. 16 Pearly's Dress Shop settled their account with cash receiving a discount of 5%. 17 Deposited cash of $36,000 in the business bank account. 18 Maxine's Dress shop returned merchandise bought on June 9; valuing $2,700. 19 Paid Maxwell Designers $40,000 in full settlement of the balance outstanding by Cheque; having received a discount of $3,000. 20 Paid S&L Office Supplies $42,500 from personal funds. 22 The owner of Belles Retail Store took merchandise for his personal use valuing $12,000. 25 Interest income of $7,500 was received in cash. 25 Paid wages by cash $52,000. 27 Paid rent $22,000 by cheque. 27 Paid water rates $15,000 by cash. 27 Paid electricity $30,000 by cheque. A. Enter the transactions in the following books of original entry: i. Sales Journal (4 marks) ii. Purchases Journal (4 marks) iii. Returns Inwards Journal (2 marks) iv. Returns Outwards Journal (2 marks) v. General Journal (6 marks) vi. Cash Book (10 marks) NB: Include appropriate folios. B. Post from the books of original entry to: i. Sales Ledger (6 marks) ii. Purchases Ledger (6 marks) iii. General Ledger (64 marks) C. Balance off all accounts in the ledgers and extract a trial balance. (12 marks) (TOTAL 116