The following are the business transactions of Andrew Johnstone, a retailer of a computer software, for the months of January and February 20-4:

Transactions for January

1 jan started business with £10,000 in bank

4 jan paid rent on premises £500, by cheque

5 jan bought shop fitting £1,500, by cheque

7 jan bought stock of computer software £5,000, on credit from comp supplies limited

11 jan software sales £1,000 paid into bank

12 jan software sales £1250 paid into bank

16 jan software sales £850 on credit to rowcester college

20 jan paid comp supplies limited £5000 by cheque

22 jan software sales £1450 paid into bank

25 jan bought software £6500 on credit from comp supplies limited

27 jan rowcester college returns software £100

Transactions for Feb

2 Feb paid rent on premises £500 by cheque

4 Feb software sales £1550 paid into bank

5 feb returned faulty software £150 comp supplies limited

10 feb software sales £1300 paid into bank

12 feb rowcester college pays the amount owing by cheque

15 feb bought shop fittings £850 by cheque

19 feb software sales £1600 paid into bank

22 feb paid comp supplies limited the amount owing by cheque

24 feb bought software £5500 on credit from comp supplies limited

25 feb software sales £1100 paid into bank

26 feb software sales £1,050 on credit to roaster college

Record January  transactions in double entry accounts and balance each account at 31 January 20-4

Draw trial balance at 31 January 20-4

Record february transactions in double entry accounts and balance each account at 28 February 20-4

Draw trial balance at 28 February 20-4

Answer rating: 100% (QA)

Recording January Transactions in Double Entry Accounts 1 Bank Account Assets Dr 10000 Capital Account Equity Cr 10000 2 Rent Expense Expenses Dr 500 ... View the full answer