Record the following for the month of January, balance off all the accounts and then extract a trial balance as at 31 Jan 20×2.
Jan 1 Started business with $3,500 cash
Jan2 Put $2,800 of the cash into a bank account.
Jan 3 Bought goods for cash $150.
Jan 4 Bought goods on credit from L. Cottle $360, M.Belgrave $490, T. Hull $110, C Smith $340
Jan 5 bought stationery on credit from B&B Ltd $170
Jan 6 Sold goods on credit to S. Waithe$90,T. Butler$150,C Howell $190,P.Perry $150
Jan 8 Paid rent by cheque $55
Jan 10 Bought fixtures on credit from Malt Ltd $480.
Jan 11 Paid salaries in cash $120
Jan 14 Returned goods to M. Belgrave $40, T.Hull $60
Jan 15 Bought motor van by cheque $700
Jan 16 Received loan form J. Harry by cheque $600
Jan 18 Goods returned to us by S. Waithe $20, C. Howell $40
Jan 21 Cash sales $90
Jan 24 Sold goods on credit to T Butler $100, P.Perry $340, J.Scotland $115
Jan 26 We paid the following by cheque M.Belgrave $450, T Hull $50
Received cheques from J.Scotland $115, T.Butler $250
Jan 30 Received a further loan from J.Harry by cash $200
Jan 30 Received $500 cash from P.Perry.