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Record the transactions in the relevant ledgers

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Reference no: EM132568862

Question - You have been as an Accountant by T. Grant and have been provided with a listing of the transactions for the month:

2015 January

JAN 1 Started Business with capital in cash of $3400 and $6500 in the bank.

JAN 4 Sold goods on credit to: G. Rice $1200; T..Lewis $750; M. Martin $2000

JAN 2 Bought goods on credit from the following persons: Blue $870; Grey $9800 and Green $1500

JAN 10 G. Rice paid us $800 by Cash

JAN 12 We paid the following by cheque: Blue $500; Grey $2400.

JAN 14 M.Martin paid us his account by cash $400

JAN 17 Paid Electricity bill by cash $1300.

JAN 20 Took $800 from the bank for personal use

JAN 25 Paid Water bill by cash $700

Required -

a. Record the transactions in the relevant ledgers.

b. Extract a trial balance as at January 31, 2015.

Reference no: EM132568862

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