following are transaction for Bargain Traders for the month of June 2020. Date 2020 Transactions Jan. 1 Started business with Shs.40,000 in the bank. “ 2 Paid furniture by cheque Shs.16,600. “ 4 Cash sales Shs.22,250. “ 5 Paid rent by cash Shs.11400. “ 6 Karim paid us by cheque Shs.10,880. “ 8 Cash sales paid direct into the bank,sh.8000 “ 10 Kibe paid us in cash Shs.3,000. “ 12 Paid wages in cash Shs.12,750. “ 14 Titus lent us Shs.25,000 paying by cheque. “ 15 Withdrew Shs.22,000 from the bank for personal use. “ 20 Bought stationery paying by cash Shs.6,000. “ 22 We paid Funga by cheque Shs.10,660. “ 28 Cash drawings Shs.10,000. “ 30 Daudi paid us by cheque Shs.2,070. “ 31 Cash sales Shs.6,600 Required: a) Prepare journal entries
following are transaction for Bargain Traders for the month of June 2020.
Date
2020
Transactions
Jan.
1
Started business with Shs.40,000 in the bank.
“
2
Paid furniture by cheque Shs.16,600.
“
4
Cash sales Shs.22,250.
“
5
Paid rent by cash Shs.11400.
“
6
Karim paid us by cheque Shs.10,880.
“
8
Cash sales paid direct into the bank,sh.8000
“
10
Kibe paid us in cash Shs.3,000.
“
12
Paid wages in cash Shs.12,750.
“
14
Titus lent us Shs.25,000 paying by cheque.
“
15
Withdrew Shs.22,000 from the bank for personal use.
“
20
Bought stationery paying by cash Shs.6,000.
“
22
We paid Funga by cheque Shs.10,660.
“
28
Cash drawings Shs.10,000.
“
30
Daudi paid us by cheque Shs.2,070.
“
31
Cash sales Shs.6,600
Required:
a) Prepare
b) Prepare all relevant Ledgers
c) Write the two-column
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