Reference no: EM132659133
On 1 January, P Roberts started a business with $2500 in the bank and $500 cash. The following transactions occurred
2 Jan: He bought materials on credit for $700 from J martin
3 Jan: He sold goods for $300 on credit to G Goddard
7 Jan: He sold goods for $1100 to K Lemon on credit
12 Jan: He bought equipment for $3000 paying by cheque
18 Jan: He paid wages of $50 by cheque
20 Jan: He bought raw material for $350, paying by cheque, He took $80 from the cash box for himself
28 Jan: He paid J Martin $250 by cheque
30 Jan: transferred $200 cash into the bank from his cash box
Problem a: Record the above transactions in the ledger accounts
1. Capital
2. Bank
3. Cash
4. Purchases
5. J Martin
6. Sales
7. G Goddard
8. K Lemon
9. Equipment
10. Wages
11. Drawings