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NB: YOU ARE ONLY REQUIRED TO DO THE DOUBLE ENTRY WHICH IS THE T ACCOUNTS Romeo Shakespeare is a retailer of love potions, which he
NB: YOU ARE ONLY REQUIRED TO DO THE DOUBLE ENTRY WHICH IS THE "T" ACCOUNTS Romeo Shakespeare is a retailer of love potions, which he sells in the Papen Market in St Thomas. 2020 February 1 Romeo started his shop with $50,000 cash in the business and a shop valued at $30,000 February 4 business bought merchandise on credit from the Good Witch, $35,600 February 6 business paid rent by cash $1,900 February 10 business sold merchandise for cash, $10,500 to Mark Anthony February 12 business paid the Good Witch $25,000 by cash February 14 Romeo took four bottles of love potion from the store, $1,500 for Juliet February 14 business sold merchandise on credit to Helena, $25,000 February 16 business bought furniture (shelves) by cash, $12,000 February 19 business bought merchandise from Luna Love-Good, $5,000 cash February 23 business paid Good Witch cash, $10,600 February 26 Helena returns to the business $2,500 worth of merchandise that didn't work on Paris. February 27 business received a loan from Gringotts, a $30,000 cheque Requirements: A. Enter the transactions in the general ledger (t-accounts), and balance off these accounts B. Extract a Trial Balance
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