Question

Journalist the following
July 1 started business with 80,000 naira cash and 200,000 naira
In the bank
July 2 paid rent by cash 18,000 naira
July 3 bought goods on credit from
Wanna 61,000 naira
Baba 21,000 naira
Mathew 51,000 naira
July 4 cash sales for goods 18,000 naira and credit sales to sabo 91,000 naira
July 5 credit sales to Abdul's 72,000 naira
Dominique 34,000 naira

Answer 1

Answer:

01/07cash a/c dr 80000

bank a/c dr 200000

To capital a/c 280000

(being business commenced)

02/07rent a/c dr 18000

To cash a/c 18000

(being rent paid by cash)

03/07purchase a/c dr 133000

To wanna a/c 61000

To baba a/c 21000

To Mathewa/c 51000

(being goods purchased on credit)

04/07cash a/c dr 18000

sabo a/c dr 91000

To sales a/c 99000

(being sales made for cash and credit)

05/07Abdul a/c dr 72000

Dominiquea/c dr 34000

To sales a/c 106000

(being sales made on credit)