Reference no: EM132056160
Question - Kitinga Enterprises runs a general Merchandise business. The transactions during the month of June 2014 were as follows:
2014
June 1 - Bought on credit from Orina Ltd. goods worth shs. 100 000, received a 20% trade discount.
June 4 - Sold goods on credit to Rono Ltd. shs. 30 000 and allowed them a 10% trade discount.
June 8 - Sent Rono Ltd. a credit note for goods returned, which had a value of shs. 30 000.
June 10 - Sold goods on credit to Akinyi shs. 60 000
June 12 - Purchased goods from Wamalwa ltd for shs. 100 000 and he allowed a 30% trade discount.
June 15 - Purchased goods on credit from Nyambura shs. 45 000
June 16 - Sent Akinyi a credit note for goods returned worth shs. 10 000
June 18 - Wamalwa Ltd. sent us a credit note for sh.30 000 for goods returned.
June 19 - Received a credit note for goods returned to Orina worth sh.25 000
June 25 - Sold goods to Wairimu on credit sh. 25 000
June 27 - Sent Wairimu a credit note for sh.5 000 to rectify an overcharge on their invoice.
June 28 - Sold goods on credit to Rono for sh. 56 000
June 29 - Purchased a Motor Van on credit from Awori Ltd. worth shs. 80 000
June 30 - Sold on credit Old machinery to Nairobi Trading Company for sh.35 000 (prior to this owned machines worth shs. 100 000
Required: Make the necessary entries in the relevant books of original entry.