The following balances were extracted from the books of Sophia’s business on 1 June 2014.

Trade payables give a cash discount of 5 per cent if accounts are settled within 30 days.

Sophia gives a cash discount of 5 per cent to its credit customers who settle their accounts within 30 days.

During June 2014, the following transactions occurred.

Prepare the business's three-column cash book for June 2014. Total the discount columns on this date. Post the totals of the discount columns to the discount accounts in the general ledger. Prepare the customer and supplier accounts recording the opening balances and the transactions in June 2014.

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$ Cash in hand 450 Cash at bank 2 720 Trade payables: N Singh 3 200 Zamran Stores 1 500 Trade receivables: K Gobin 600 QR Pulchan Ltd 2 080