Reference no: EM131760285
Question: March 1. Started business with with $900 cash.
March 2. Bought goods on credit from P.Z Ltd for $460 and immediately deposited $100 on account by cash.
March 5. Received credit note of $50 from P.Z Ltd for goods damaged in transit.
March 9. Sold on credit to C. Ako five dozen shirts at $6 per shirt invoiced subject to 20% trade discount.
March 15. Bought goods for cash for $210.
March 18. Cash sales were $145.
March 21. Bought on credit from G.B Oliver Ltd ten cases Club beer at $12 a case invoiced subject to 10% trade discount.
March 23. Returned one case club beer which was in excess of requirements.
March 26. Credit sales to: B. Dock $240; M. Ryan $120; G. Soul $94; F. Trip $107.
March 27 Goods returned to us by B. Dock $19; F. Trip $32.
March 27 Credit purchases from A. Clerk $216; F. Bean $324.
March 28 Goods returned by us to A. Clerk 28; and F. Bean $56.
March 29 Paid G.B Oliver Ltd settle his account by cash less than 10% cash discount.
March 30 Paid general expenses $45; wages $34.
March 31 C. Ako settled his account in full less 5% discount.
Enter the following transactions for the month in the appropriate day book, post to ledger and extract trial balance.
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