You are to enter the following transactions in the books of PP Enterprise,  post to accounts, balance off the accounts, extract a trial balance and prepare profit or loss statement and balance sheet as on July, 2016

1. Credit purchases from: K Hill £380; M Norman £500; N Senior £106,: R Morton £200; J Cook £180; D Edwards £410; C Davies £66.

2. Credit sales to: E Rigby £510; E Phillips £246; F Thompson £356, A Green £307; H George £250; J Ferguson £185.

3. Returns outwards to: M Norman £30; N Senior £16.

4. Returns inwards from: E Phillips £18; F Thompson £22.

5. Credit sales to: E Phillips £188; F Powell £310; E Lee £420

6. Credit purchases from: C Ferguson £550; K Ennevor £900.

7. Returns inwards from: E Phillips £27; E Rigby £30.

8. Returns outwards to: J Cook £13; C Davies £11.

9. Credit sales: T Thompson £56; L Rodriguez £148; K Barton £145.

10. Credit purchases: P Potter £144; H Harris £25; B Spencer £76, B Perkins £24; H Harris £58; H Miles £123

11. Credit sales: K Kelly £89; N Mendes £78; N Lee £257.

12. Goods returned by us to: P Potter £12; B Spencer £22.

13. Goods returned to us by: T Thompson £5; K Barton £11; K Kelly £14.

14. Credit purchases: H Harris £54; B Perkins £65; L Nixon £75.

15. Goods returned by us to B Spencer £14.

16. Credit sales: K Mohammed £57; K Kelly £65; O Green £112.

17. Goods returned to us by N Mendes £24.

18. Credit sales: N Lee £55.

19. Credit purchase from F Bean £324.

20. Credit purchases from the following: A Clerk £216; B Lock £322; F Turner £64; G Rill £130

21. Goods returned by us to the following: F Bean £56; A Clerk £28.

22. Credit purchase from B Lock £140.

23. Credit purchases from the following: J Top £230; I Gray £310; F Low £405; P Able £180.

24. Goods returned by us to the following: I Gray £140; B Lock £34.

25. Received a further loan from B Barclay by cash £500.

26. Credit purchases from: F Turner £174; T Burns £230.

27. Credit sales to: B Dock £240; M Ryan £126; G Soul £94; F Trip £107.

28. Credit sales to: P Coates £182; L Job £203; T Mann £99

29. Goods returned to us by: B Dock £19; F Trip £32

30. Bought goods for cash £550.

31. Bought goods on credit from: T Dry £800; F Hood £930; M Smith £160; G Low £510.

32. Bought stationery on credit from Buttons Ltd £89.

33. Sold goods on credit to: R Tong £170; L Fish £240; M Singh £326; A Tom £204.

34. Paid rent by cheque £220.

35. Bought fixtures on credit from Chiefs Ltd £610

36. Paid salaries in cash £790.

37. Returned goods to: F Hood £30; M Smith £42.

38. Bought van by cheque £6,500.

39. Received loan from B Barclay by cheque £2,000.

40. Goods returned to us by: R Tong £5; M Singh £20.

41. Cash sales £145.

42. Sold goods on credit to: L Fish £130; A Tom £410; R Pleat £158.

43. We paid the following by cheque: F Hood £900; M Smith £118.

44. Received cheques from: R Pleat £158; L Fish £370.

45. Received £614 cash from A Tom.

Answer rating: 100% (QA)

In the books of PP Enterprise Journal Entries Date Transaction No Descriptions Debit Amount Credit Amount 1 Purchase AC Dr 1842 To K Hill AC 380 To M Norman AC 500 To N Senior AC 106 To R Morton AC 20... View the full answer