Record the following business transactions of Exquisite Stores as they would appear in the subsidiary books and ledgers of the business and extract a trial balance as at 31st March 2008. 2 March, 2008: Initial investment from proprietor: Cash in hand $30,000, cash at bank $70,000 and Computers valued at $1,800. 3 March, 2008: Paid rent for an office space by cheque $30,000. 5 March, 2008: Bought goods on credit from: Classic Products $20,000 and Famous Stores $15,000, paid carriage inwards by cash $1,500. 7 March 2008: Sales by cash $6,000 and by cheque $10,000. 7 March 2008: Goods costing $500 taken by proprietor's wife. 9 March 2008: Returned goods to Classic Products $2,000. 9 March 2008: Goods $1,300 sold by cheque, returned by the buyer, Choice Wears. 10 March 2008: Purchased Motor Van $12,000 by cheque, Furniture $1,750 by cash and Machine $3,000 on credit from General Tools Limited. 12 March 2008: Sold goods on credit to Timeless Products $17,000, Wiseman Limited $21,500 and Ideal Ventures $32,000. Paid carriage outwards $600. 13 March 2008: Sold old computers for $800 by cash and furniture for $200 on credit to Miss Faith. 15 March 2008: Office cash $25,000 lodged in bank and received full payment from Timeless Products by cash. 16 March 2008: Paid Classic Products in full by cheque. 18 March 2008: Obtained loan $20,000 from Friendly Finance Limited by cheque. 18 March 2008: Goods returned by Wiseman Limited $1,500 and Ideal Ventures $4,500. Received full payment from Wiseman Limited. 19 March 2008: One of the computers sold on 13th March, 2008 was returned by the buyer, Alpha Tech Limited and $300 was immediately refunded by cash. 20 March 2008: Bought goods on credit from Glorious Ventures $30,000 and Classic Products $7,500. Paid carriage inwards $700 by cash. 20 March 2008: Received furniture valued at $500 from its proprietor. 22 March 2098: Purchased goods by cheque $25,000 and by cash $12,500. 22 March 2008: Sold goods on credit to Omega Ventures $28,000. 23 March 2008: Repaired proprietor's private car by cash $300. 25 March 2008: Returned goods to Glorious Ventures $2,500 and settled the account in full by cheque. 26 March 2008: Withdrew from bank: $16,000 for office use and $3,200 for proprietor's clothing needs. 28 March 2008: Paid Famous Stores $10,000 by cheque. 29 March 2008: Purchased a computer by cash $1,200. 31 March 2008: Cash sales to date $7,800. 31 March 2008: Paid salaries by cheque $24,000 and by cash $6,000.
Record the following business transactions of Exquisite Stores as they would appear in the subsidiary books and ledgers of the business and extract a
2 March, 2008: Initial investment from proprietor: Cash in hand $30,000, cash at bank $70,000 and Computers valued at $1,800.
3 March, 2008: Paid rent for an office space by cheque $30,000.
5 March, 2008: Bought goods on credit from: Classic Products $20,000 and Famous Stores $15,000, paid carriage inwards by cash $1,500.
7 March 2008: Sales by cash $6,000 and by cheque $10,000.
7 March 2008: Goods costing $500 taken by proprietor's wife.
9 March 2008: Returned goods to Classic Products $2,000.
9 March 2008: Goods $1,300 sold by cheque, returned by the buyer, Choice Wears.
10 March 2008: Purchased Motor Van $12,000 by cheque, Furniture $1,750 by cash and Machine $3,000 on credit from General Tools Limited.
12 March 2008: Sold goods on credit to Timeless Products $17,000, Wiseman Limited $21,500 and Ideal Ventures $32,000. Paid carriage outwards $600.
13 March 2008: Sold old computers for $800 by cash and furniture for $200 on credit to Miss Faith.
15 March 2008: Office cash $25,000 lodged in bank and received full payment from Timeless Products by cash.
16 March 2008: Paid Classic Products in full by cheque.
18 March 2008: Obtained loan $20,000 from Friendly Finance Limited by cheque.
18 March 2008: Goods returned by Wiseman Limited $1,500 and Ideal Ventures $4,500. Received full payment from Wiseman Limited.
19 March 2008: One of the computers sold on 13th March, 2008 was returned by the buyer, Alpha Tech Limited and $300 was immediately refunded by cash.
20 March 2008: Bought goods on credit from Glorious Ventures $30,000 and Classic Products $7,500. Paid carriage inwards $700 by cash.
20 March 2008: Received furniture valued at $500 from its proprietor.
22 March 2098: Purchased goods by cheque $25,000 and by cash $12,500.
22 March 2008: Sold goods on credit to Omega Ventures $28,000.
23 March 2008: Repaired proprietor's private car by cash $300.
25 March 2008: Returned goods to Glorious Ventures $2,500 and settled the account in full by cheque.
26 March 2008: Withdrew from bank: $16,000 for office use and $3,200 for proprietor's clothing needs.
28 March 2008: Paid Famous Stores $10,000 by cheque.
29 March 2008: Purchased a computer by cash $1,200.
31 March 2008: Cash sales to date $7,800.
31 March 2008: Paid salaries by cheque $24,000 and by cash $6,000.
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