Reference no: EM132686550

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.