Financial Accounting I QUESTION TWO The John trading company has undertaken the following transactions during the month of May 2016. May 01: Cash balance $2,200, bank overdraft $365. May 03: Paid J & Co. by check $1,200, discount received from him $15. May 05: Received from A & Co. a check for $980, discount allowed to them $20. May 07: Deposited into bank the check received from A & Co. on May 05. May 10: Purchased stationary for cash, $150. May 15: Purchased merchandise for cash, $1,300. May 15: Cash sales for the first half of the month, 2,350. May 16: Deposited into bank $1,600. May 18: Cash withdrawn from bank for personal expenses $150. May 19: Issued a check for merchandise purchased, $1,650. May 21: Drew from bank for office use, $650. May 24: Received a check from S & Sons and deposited the same into bank, $1,560. May 25: Paid a check to Ali Inc. for $400 and received a discount of $15. May 27: Bought furniture for cash for office use, $390. May 29: Paid office rent by check, $450. May 30: Cash sales for the second half of the month $4,300. May 31: Paid salaries by check $1,760. May 31: Withdrew from bank for office use $1,470. Required: Record the above transactions in a three/triple column cash book.
Financial Accounting I
QUESTION TWO
The John trading company has undertaken the following transactions during the month of May 2016.
May 01: Cash balance $2,200, bank overdraft $365.
May 03: Paid J & Co. by check $1,200, discount received from him $15.
May 05: Received from A & Co. a check for $980, discount allowed to them $20.
May 07: Deposited into bank the check received from A & Co. on May 05.
May 10: Purchased stationary for cash, $150.
May 15: Purchased merchandise for cash, $1,300.
May 15: Cash sales for the first half of the month, 2,350.
May 16: Deposited into bank $1,600.
May 18: Cash withdrawn from bank for personal expenses $150.
May 19: Issued a check for merchandise purchased, $1,650.
May 21: Drew from bank for office use, $650.
May 24: Received a check from S & Sons and deposited the same into bank, $1,560.
May 25: Paid a check to Ali Inc. for $400 and received a discount of $15.
May 27: Bought furniture for cash for office use, $390.
May 29: Paid office rent by check, $450.
May 30: Cash sales for the second half of the month $4,300.
May 31: Paid salaries by check $1,760.
May 31: Withdrew from bank for office use $1,470.
Required: Record the above transactions in a three/triple column
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