Shahid is a trader. He maintains a full set of accounting records including a three-column cash book.
On 1 August 2017 Shahid had the following balances in his cash book. $ Cash 50 Bank overdraft 7150 Shahid’s transactions for August 2017 included the following.
August 9 A cheque received in July for $372 from EN Supplies was dishonoured by the bank
18 Paid $44 by cheque for fuel of private motor vehicle 24 Received a cheque from Mariam to settle her debt of $520, less 2½% cash discount 27 Paid $600 by cheque. This included $365 for new office equipment and the balance was for repairs to existing office equipment. 30 Cash sales, $332431 Paid all the remaining cash into the bank except $200
REQUIRED
(a) Complete Shahid’s cash book on the page opposite.
Balance the cash book and bring down the balances on 1 September 2017.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Heres the cash book for Sha... View the full answer