Prepare journal entries to record the following.

Show how all the journal entries would be posted to ledger accounts.

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May The owner of a business opened the books of account with the following: bank $5 000, fixtures and fittings $23 000, bank loan S8 000 and capital $20 000 12 An error was made when the purchase of stationery for $105 was posted to the debit side of the purchases account rather than the debit side of the administration expenses account, This mistake was corrected 15 Some fixtures, $1 050, were purchased for business use on credit from Albo Shelving Ltd, invoice number 3088 A cash discount of $100 had been cleducled wherı selling the account of a trade payable, TX Singh Ltd. However, this supplier has written to say that this discount should be cancelled as the payment had been made after the specified time limit. Entries were made to cancel the discount