Reference no: EM132440528
Transactions for the month of January of a small finishing retailer, RIMBAYU Enterprise are given as the following.
2020 January
1 Initial investment to start the business with RM105,000 cash
2 Put RM90,000 of the cash into a bank account
3 Bought goods for cash RM5,500
4 Bought goods on credit from: Kelly RM800; Smelly RM930; Jelly RM160; Peter RM510
5 Bought stationery on credit from Happy Bhd RM89
6 Sold goods on credit to: ABC RM170; Edwin RM240; Zack RM326; Tank RM204.
8 Rent paid by cheque RM220 10 Bought fixtures & fittings by credit from Wonderful Bhd RM610.
11 Paid salaries in cash RM790.
14 Returned goods to Smelly RM30; Jelly RM42.
15 Bought van by cheque RM6,500.
16 Received loan from Barney by cheque RM2,000.
18 Sales return: ABC RM5; Edwin RM20.
21 Cash sales RM145.
24 Sold goods on credit to Tank RM130, Zack RM410; Blue RM158.
26 Paid the followings by cheque: Smelly RM300; Jelly RM100.
29 Received cheques from Edwin RM300; Zack RM570.
30 Received a further loan from Barney by cash RM500.
30 Received RM158 cash from Blue.
(a) Prime Book Entry for the above transactions.
(b) Record the transactions in Ledgers and Balance-off the ledgers.
(c) Extract a trial balance.