Reference no: EM132702310

Problem 1: Enter the following transactions in the relevant ledgers for J. Bryan and extract a trial balance as at January 31, 2016.

2016 January

3 Started Business with capital of $4000 in the bank and $3400 in cash.                                                                                              4 Bought goods on credit from the following persons: Green $800; Blue $1200 and Red $750
5 Sold goods on credit to: Mark $2500; Jane $6200; Rudy $450
6 Paid Rent by cash $520.
9 Mark paid us his account by cheque $500
10 Jane paid us $350 by cheque.
12 We paid the following by cheque: Green $400; Blue $500.
31 Paid Electricity bill by cash $250
31 Took $600 from the bank for personal use.