The following transactions took place for Star Enterprises Ltd. for the month of July 20XX.

1 Started business with $280 000 in the bank.

2 Transferred $50 000 from the bank to a cash account

3 Bought machinery on credit from Premium Suppliers ltd $46 000

7 Purchased motor car paying by cheque $35,000.

10 Bought goods on credit from the following: K. Brown $60 000, D. Harvey $75 000.

12 Purchased Furniture on credit from Singer ltd $15 000

13 Cash Sales $90 000

15 Returned some furniture to Singer ltd $5,000

17 Received cheques from K. Brown $40 000, D. Harvey $45 000.

20 Sold some machinery for cash $10, 000

22 Paid amount owing to Singer ltd by cheque $8, 000.

30 Owner introduced a further $180,000 to the business by cash.

31 Sold goods, money being lodged to the bank immediately $60 000

Required:

1. Enter the above transactions in the General ledger accounts (15 marks)
2. Balance off and extract a trial balance as at July 31, 2016. (15 marks)