Terry supplies the following information for the year ended 31 May 20*8: stock at 1 June 20*7
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Terry supplies the following information for the year ended 31 May 20*8:
stock at 1 June 20*7 £1,329; stock at 31 May 20*8 £1,275; purchases £23,664; sales £65,782; wages £12,674; motor expenses £6,710; general expenses £441; heating and lighting expenses £1,375; advertising £2,674.
Required
Prepare a trading and profit and loss account for the year ended 31 May 20*8.
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