Apply concept of financial accounting to prepare : Double entries, T Ac, Trial balance of above transactions.
Enter the following transactions in the appropriate accounts: 20X6
Aug 1 Started in business with £7,400 cash.
== 2 Paid £7,000 of the opening cash into the bank.
== 4 Bought goods on credit £410 from J Watson.
== 5 Bought a van by cheque £4,920.
== 7 Bought goods for cash £362.
== 10 Sold goods on credit £218 to L Less.
== 12 Returned goods to J Watson £42.
== 19 Sold goods for cash £54.
== 22 Bought fixtures on credit from Firelighters Ltd £820.
== 24 F Holmes lent us £1,500 paying us the money by cheque.
== 29 We paid J Watson his account by cheque £368.
== 31 We paid Firelighters Ltd by cheque £820.
Apply concept of financial accounting to prepare :
Double entries, T Ac,
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