The following information is given for Timmy: 1. Timmy sells goods for cash 750. 2. He pays

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The following information is given for Timmy:

1. Timmy sells goods for cash £750.

2. He pays rent £100 cash.

3. Timmy sells goods on credit £48 to Chas.

4. He pays wages £78 cash.

5. Timmy purchases goods for resale £330 on credit from Duncan.

6. He purchases goods for resale £69 from Vera, paying cash.


Required

Enter the transactions in Timmy’s ledger.

Carry down any balances.

Extract a trial balance to check the accuracy of the entries.

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