Hilda Prentice commenced a wholesale business on 1 April 2010 introducing cash of £10,000 as her capital. The following transactions took place within the first week:

Required:

(a) Set out the prime entry recording every transaction reported above.

(b) Post to appropriate ledger accounts.

(c) Extract a Trial Balance as at 8 April 2010.

Transcribed Image Text:

Date 4.4 4.4 4.4 5.4 Transaction Paid £4,000 for furniture Paid £300 as rent for the week Purchased goods for sale on credit from City Stores for £1,480 and Global Ltd for £2,175 Paid £280 for advertising