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Problem 1: Record the following transactions in the ledger accounts of L. Black for the month of March 2015 and balance-off the accounts, the extract a Trial Balance.
2015
March 1 Started business with $8,000 in the bank. March 6 Purchased goods on credit from D. Lue $7,200. March 10 Sold goods for cash $6,500. March 17 Returned goods to D. Lue $2,000. March 20 Paid telephone expense by $3,250 cash. March 27 Purchased Computers $7,000 by cheque March 30 Sold good for credit to Mr. Tee $1,700. March 30 Proprietor invested a further $5,000 in the business bank account.
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