January 1 2 4 Started Business with capital in cash of $3000 and $6000 in the...

Transcribed Image Text:

January 1 2 4 Started Business with capital in cash of $3000 and $6000 in the bank. Sold goods on credit to: G. Ricy $1000; T..Lein$700; M. Mark $3000 Bought goods on credit from the following persons: Barn $800; Gran $9000 and Grenel $1000 10 G. Ricy paid us $500 by Cash T lein paid us 300 by cheque 12 We paid the following by cheque: Barn $400; Grenel $2000. M. Mark paid us his account by cash $400 14 17 20 Paid Electricity bill by cash $1000. Took $500 from the bank for personal use 25 Paid Water bill by cash $700 Required: a. Record the transactions in the relevant ledgers Extract a trial balance as at January 2015 A BI January 1 2 4 Started Business with capital in cash of $3000 and $6000 in the bank. Sold goods on credit to: G. Ricy $1000; T..Lein$700; M. Mark $3000 Bought goods on credit from the following persons: Barn $800; Gran $9000 and Grenel $1000 10 G. Ricy paid us $500 by Cash T lein paid us 300 by cheque 12 We paid the following by cheque: Barn $400; Grenel $2000. M. Mark paid us his account by cash $400 14 17 20 Paid Electricity bill by cash $1000. Took $500 from the bank for personal use 25 Paid Water bill by cash $700 Required: a. Record the transactions in the relevant ledgers Extract a trial balance as at January 2015 A BI

Answer rating: 100% (QA)

To record the transactions in the relevant ledgers we need to categorize them into different account... View the full answer