Kitty Wilkinson records her weekly cash flow for her business. The below are her records for the month of May 2023 May Opening balances, overdrawn bank balance at the bank $11,890, Cash balance $2,300 May 2 Cash sales amounted to $25,690. May 5 Deposited cash in the bank, $25,000 May 6 Paid Purchases by cheque $10,470 May 7 Cashier with draws $2,000 cash from bank for business use. May 8 Owner withdraws cash from bank to pay his house rent $8,000. May 10 Debtor - M Kennedy paid with a cheque for $2,000 after he deducted a $500 cash discount to which he was entitled. May 15 Cash sales immediately deposited to the bank account $31,110. May 16 Payment to creditor -C Barry by cheque $9,900 in full settlement of amounts owing to him of $10,500. May 19 Purchases paid by the business' debit card $12,000. May 23 Cash sales $6,840 May 25 Wages paid in cash $5,400. May 29 Paid creditor - B Goode $3,400 by cheque May 30 Received $3,000, cheque from J Jacobs settling amounts owed Required: a) Record the above transactions in the Three Column Cash Book of Kitty Wilkinson. Balance the cash book and bring down the balances Kindly use the format below. Please to set it out like this thank you. This is urgent
Kitty Wilkinson records her weekly cash flow for her business. The below are her records for the month of May 2023 May Opening balances, overdrawn bank balance at the bank $11,890, Cash balance $2,300 May 2 Cash sales amounted to $25,690. May 5 Deposited cash in the bank, $25,000 May 6 Paid Purchases by cheque $10,470 May 7 Cashier with draws $2,000 cash from bank for business use. May 8 Owner withdraws cash from bank to pay his house rent $8,000. May 10 Debtor - M Kennedy paid with a cheque for $2,000 after he deducted a $500 cash discount to which he was entitled. May 15 Cash sales immediately deposited to the bank account $31,110. May 16 Payment to creditor -C Barry by cheque $9,900 in full settlement of amounts owing to him of $10,500. May 19 Purchases paid by the business' debit card $12,000. May 23 Cash sales $6,840 May 25 Wages paid in cash $5,400. May 29 Paid creditor - B Goode $3,400 by cheque May 30 Received $3,000, cheque from J Jacobs settling amounts owed Required: a) Record the above transactions in the Three Column Cash Book of Kitty Wilkinson. Balance the cash book and bring down the balances Kindly use the format below. Please to set it out like this thank you. This is urgent
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
Related questions
Question
None
![Kitty Wilkinson records her weekly cash flow for her business. The below are her records for the month of May 2023 May 1
Opening balances, overdrawn bank balance at the bank $11,890, Cash balance $2,300 May 2 Cash sales amounted to
$25,690. May 5 Deposited cash in the bank, $25,000 May 6 Paid Purchases by cheque $10,470 May 7 Cashier with draws
$2,000 cash from bank for business use. May 8 Owner withdraws cash from bank to pay his house rent $8,000. May 10
Debtor - M Kennedy paid with a cheque for $2,000 after he deducted a $500 cash discount to which he was entitled.
May 15 Cash sales immediately deposited to the bank account $31,110. May 16 Payment to creditor -C Barry by cheque
$9,900 in full settlement of amounts owing to him of $10,500. May 19 Purchases paid by the business' debit card $12,000.
May 23 Cash sales $6,840 May 25 Wages paid in cash $5,400. May 29 Paid creditor - B Goode $3,400 by cheque May 30
Received $3,000, cheque from J Jacobs settling amounts owed Required: a) Record the above transactions in the Three
Column Cash Book of Kitty Wilkinson. Balance the cash book and bring down the balances Kindly use the format below.
Please to set it out like this thank you. This is urgent](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d3d8deb-8b5d-4bc6-b1e1-562032e8da26%2Fade6a3b4-a4a7-4770-a79e-a57875582977%2Fwms754c_processed.png&w=3840&q=75)
Transcribed Image Text:Kitty Wilkinson records her weekly cash flow for her business. The below are her records for the month of May 2023 May 1
Opening balances, overdrawn bank balance at the bank $11,890, Cash balance $2,300 May 2 Cash sales amounted to
$25,690. May 5 Deposited cash in the bank, $25,000 May 6 Paid Purchases by cheque $10,470 May 7 Cashier with draws
$2,000 cash from bank for business use. May 8 Owner withdraws cash from bank to pay his house rent $8,000. May 10
Debtor - M Kennedy paid with a cheque for $2,000 after he deducted a $500 cash discount to which he was entitled.
May 15 Cash sales immediately deposited to the bank account $31,110. May 16 Payment to creditor -C Barry by cheque
$9,900 in full settlement of amounts owing to him of $10,500. May 19 Purchases paid by the business' debit card $12,000.
May 23 Cash sales $6,840 May 25 Wages paid in cash $5,400. May 29 Paid creditor - B Goode $3,400 by cheque May 30
Received $3,000, cheque from J Jacobs settling amounts owed Required: a) Record the above transactions in the Three
Column Cash Book of Kitty Wilkinson. Balance the cash book and bring down the balances Kindly use the format below.
Please to set it out like this thank you. This is urgent
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning