You are to open the books of F. Polk, a trader, via the journal to record the assets and liabilities, and are then to record the daily transactions for the month of May. A trial balance is to be extracted as on 31 May 2013.

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2013 May 1 Assets: Premises 34,000; Van 5,125; Fixtures 810; Inventory 6,390; Accounts receiv- able: P. Mullen 140, F. Lane 310; Cash at bank 6,240; Cash in hand 560. Liabilities: Accounts payable: S. Hood 215, J Brown 640. Paid storage costs by cheque 40. Goods bought on credit from: S. Hood 145; D. Main 206; W. Tone 96; R. Foot 66. Goods sold on credit to: J. Wilson 112; T. Cole 164; F. Syme 208; J. Allen 91; P. White 242; F. Lane 90. 1 2 3 4 Paid for motor expenses in cash 60. 7 Cash drawings by proprietor 150. 9 Goods sold on credit to: T. Cole 68; J. Fox 131. 11 Goods returned to Polk by: J. Wilson 32; F. Syme 48. 14 Bought another van on credit from Abel Motors Ltd 4,850. 16 The following paid Polk their accounts by cheque less 5 per cent cash discount: P. Mullen; F. Lane; J. Wilson; F. Syme. 19 Goods returned by Polk to R. Foot 6. 22 Goods bought on credit from: L. Mole 183; W. Wright 191. 24 The following accounts were settled by Polk by cheque less 5 per cent cash discount: S. Hood; J. Brown; R. Foot. 27 Salaries paid by cheque 740. 30 Paid business rates by cheque 140. 31 Paid Abel Motors Ltd a cheque for 4,850.