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Problem 1: Enter the following transactions in the relevant ledgers for J. Bryan and extract a trial balance as at January 31, 2016.
2016 January
3 Started Business with capital of $4000 in the bank and $3400 in cash. 4 Bought goods on credit from the following persons: Green $800; Blue $1200 and Red $7505 Sold goods on credit to: Mark $2500; Jane $6200; Rudy $4506 Paid Rent by cash $520.9 Mark paid us his account by cheque $50010 Jane paid us $350 by cheque.12 We paid the following by cheque: Green $400; Blue $500.31 Paid Electricity bill by cash $25031 Took $600 from the bank for personal use.
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