Reference no: EM131385384
Bill Sankey is a sole proprietor who keeps records of his cash and bank transactions. His transactions for the month of March were as follows:
March
1 Cash in hand £400, Cash at bank £6,000.
4 Sankey received a cheque for £1,200 from W. Abbot which was paid directly into the bank. This represented sales.
6 Paid wages in cash £60.
8 Sold goods for cash £300.
10 Received cheque from G. Smart for £600, in full settlement of a debt of £640; this was paid directly into the bank.
11 Paid sundry expenses in cash £48.
14 Purchased goods by cheque for £1,400.
18 Paid J. Sanders a cheque of £190 in full settlement of a debt of £210.
23 Withdrew £25 from the bank to pay the office cleaning company.
24 Paid wages in cash £60.
26 Sold goods for cash £380.
28 Paid salaries by cheque £240.
31 Retained cash amounting to £600 and paid the remainder into the bank.
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