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ZS Traders buys and sells male clothing from/to local business. ZS Trader add 25% profit mark-up on cost for all goods sold on cash or
ZS Traders buys and sells male clothing from/to local business. ZS Trader add 25% profit mark-up on cost for all goods sold on cash or credit. You are provided with source documents of ZS Traders on 31 January 2023. The owner Z. Smith needs your assistance in preparation of books of first entry as well as posting to the specific ledger accounts This task is divided into two parts. In part one: you are expected to prepare subsidiary books listed below using source documents provided. Part one: Prepare the following subsidiary books in the answer books provided 1.1 Cash receipts Journal 1.2 Cash Payments Journal 1.3 Creditors Journal 1.4 Creditors Allowances Journal 1.5 Debtors Journal 1.6 Debtors Allowances Part two: Cast the subsidiary books and Post to the general ledger the following accounts. 2.1 Bank Account 2.2 Trading Stock (11) (13) (04) (04) (03) (04) (04) (07)
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