The following information represents the cash transactions of Mr. Favour for the month of September 2020:...

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The following information represents the cash transactions of Mr. Favour for the month of September 2020: 2020 September 1 Balances brought forward: Cash RM2,870; Bank RM21,426. 2 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: - Gan RM780 - Fish RM960 - Old RM1,260 4 Paid rent by cheque RM1,290. 6 Femi lent us RM15,000 paying by cheque. 8 Mr Favour paid the following accounts by cheque in each case deducting a 2 per cent cash discount: - White RM720 - Green RM960 - Shin RM1,600 10 Paid motor expenses in cash RM324. 12 Jack pays his account of RM280, by cheque RM274, deducting RM6 cash discount. 15 Paid wages in cash RM1,740. 18 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: RM1,620 - Pony - Line RM2,100 - Owen Required: RM1,560 21 Cash withdrawn from the bank RM1,200 for business use. 24 Cash drawings RM600. 25 Paid Peat his account of RM480, by cash RM465, having deducted RM15 cash discount. 29 Bought furniture paying by cheque RM2,160. 30 Received commission by cheque RM360. (a) Write up a three-column cash book for Mr. Favour based on the above-given details and balanced-off. (22 marks) (b) Show the relevant discount accounts in the general ledger. (3 marks) The following information represents the cash transactions of Mr. Favour for the month of September 2020: 2020 September 1 Balances brought forward: Cash RM2,870; Bank RM21,426. 2 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: - Gan RM780 - Fish RM960 - Old RM1,260 4 Paid rent by cheque RM1,290. 6 Femi lent us RM15,000 paying by cheque. 8 Mr Favour paid the following accounts by cheque in each case deducting a 2 per cent cash discount: - White RM720 - Green RM960 - Shin RM1,600 10 Paid motor expenses in cash RM324. 12 Jack pays his account of RM280, by cheque RM274, deducting RM6 cash discount. 15 Paid wages in cash RM1,740. 18 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: RM1,620 - Pony - Line RM2,100 - Owen Required: RM1,560 21 Cash withdrawn from the bank RM1,200 for business use. 24 Cash drawings RM600. 25 Paid Peat his account of RM480, by cash RM465, having deducted RM15 cash discount. 29 Bought furniture paying by cheque RM2,160. 30 Received commission by cheque RM360. (a) Write up a three-column cash book for Mr. Favour based on the above-given details and balanced-off. (22 marks) (b) Show the relevant discount accounts in the general ledger. (3 marks)

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a Threecolumn cash book for Mr Favour Date Particulars Receipts Payments Balance 2020 Sep 1 Balances ... View the full answer