Question: Question 3 (17 marks) On 1 March 2018, James started a car panel beating enterprise in the heart of Rehoboth. He call it Blossom Car
Question 3 (17 marks) On 1 March 2018, James started a car panel beating enterprise in the heart of Rehoboth. He call it Blossom Car Repairs CC. The transactions completed by the enterprise for March 2018 are as follows: 1 March James sold a personal investment (shares) in Kadiu Fishing CC for NS50 000 and began his business by depos iting N$30 000 of the proceeds in a bank account, opened in the name of the business and NS 20 000 in cash. 5h March Paid rent for the shop space for the month of March N$2 000 by cheque. 10th March Complete repair work on credit for Daniel N$1 000. 15h March Purchased repair equipment for N$1 500 cash. 19th March Purchased additional repair equipment on credit from Game Store for N$4 000. 22nd Mach Paid Game Store N$3 900 cash in full settlement of his account. 25h March Paid N$700 cash for advertising the business. 26th March Receive a cheque from Daniel for the work completed on 10 March. 30h March James withdrew NS350 cash from the business to cover personal expenses You are re quired to: Record the transactions in the General ledger of Blossom Car Repairs CC and balance off the accounts
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