Reference no: EM132757360

Problem1 : Show the discount accounts in the general ledger.

June 2020

June 1 Balance brought forward: Cash $1,260, Bank $14,820

June 2 The following paid us by cheque, in each case deducting a 5 percent cash discount: S. Cooters $2460; L. Pang $960; H. Gold $1,320; A.Miller 3,120

June 3 Cash sales paid directly into the bank $2,220

June 5 Paid rent by cash $1,020

June 6 We paid the following accounts by check, in each case deducting 2.5% cash discount: T. Peters $1080; G. Green $2,880; B. Hell $1,200

June 8 Withdrew cash from bank for business use $1,200

June 10 Cash sales 3,780

June 11 Bank all cash except $1,800

June 12 Q. Quinn paid us their account of $840 by check less $12 cash discount

June 14 Paid wages by cash 1,800

June 16 We paid the following accounts by check L. Lorry 930 less cash discount 45; B. Royal $1,236 less cash discount 36.

June 20 Bought Machinery by check $12,960

June 24 Bought Building paying by check $42900

June 29 Received $972 check from B. Jones

June 30 Cash Sales $2,940

June 30 Bought Stationary paying by cash $168

June 30 Bank all cash except $900