Karen Folks owns a small business and has a cashbook to record her receipts and payments....

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Karen Folks owns a small business and has a cashbook to record her receipts and payments. The following reflect the balances and transactions that took place during the month of June 2022. Date Descriptions June 1 Balances 2 4 5 6 7 9 Bank Cash Sold goods and received cheque Paid Electricity by cheque Cash Sales Bought Machine by cash Deposited cash into bank Received loan from Tahseen Nicely 8 Bought Motor Car by cheque 16 Sold good for Cash 17 Paid Paul Small in full his account of $45,000 by cheque 19 Paid Clinton Reid his account of $40,000 by cash in full 20 Rent received by cheque 21 Received payment from the following by cheque less 10% discount 21 22 22 Paid Rent by Cash 25 Rent Received by Cheque 26 Purchases goods paying by cheque 26 Cash Sales 30 Nadine McLean Levar Pearson Lodged all cash into Bank Except Amount (S) Required: Prepare the cash book for Karen Folks (30 marks) 160,000 80,000 20,000 5,000 32,000 18,700 15,000 80,000 90,000 40,000 43,000 38,000 10,000 16,000 25,000 6,000 25,000 20,000 36,000 5,000 Karen Folks owns a small business and has a cashbook to record her receipts and payments. The following reflect the balances and transactions that took place during the month of June 2022. Date Descriptions June 1 Balances 2 4 5 6 7 9 Bank Cash Sold goods and received cheque Paid Electricity by cheque Cash Sales Bought Machine by cash Deposited cash into bank Received loan from Tahseen Nicely 8 Bought Motor Car by cheque 16 Sold good for Cash 17 Paid Paul Small in full his account of $45,000 by cheque 19 Paid Clinton Reid his account of $40,000 by cash in full 20 Rent received by cheque 21 Received payment from the following by cheque less 10% discount 21 22 22 Paid Rent by Cash 25 Rent Received by Cheque 26 Purchases goods paying by cheque 26 Cash Sales 30 Nadine McLean Levar Pearson Lodged all cash into Bank Except Amount (S) Required: Prepare the cash book for Karen Folks (30 marks) 160,000 80,000 20,000 5,000 32,000 18,700 15,000 80,000 90,000 40,000 43,000 38,000 10,000 16,000 25,000 6,000 25,000 20,000 36,000 5,000

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Three Column Cash Book of Karen Folks for the month ended June 30 Date Receipts 1Ju... View the full answer