Post the following transactions in the books of Geraud. June 1 Purchased goods from Khor which cost
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Post the following transactions in the books of Geraud.
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June 1 Purchased goods from Khor which cost $3000 less trade discount of 10%. 5 Sold goods to Lai for $600. 10 Returned goods which had cost Geraud $200 to Khor. 15 Purchased goods from Lim which cost $2800 before trade discount of 10%. 20 Sold goods to Chin for $1300. 25 Lai returned goods which had cost him $200. 30 Geraud paid Khor and Lim the amounts due to them after deducting 5% cash discount. Lai and Chin paid Geraud the amounts they owed him after deducting 5% cash discount.
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