The following transactions were obtained from the books of wine wholesaler co ltd for the month of March 2021. Mar 1 Balances brought forward: Cash £620; Bank 7,142. Mar 2 The following debtors paid their accounts by cheque, in each case deducting 5 per cent cash discounts:G.Slick £260; Fish £320;T old £420 Mar 4 Paid rent by cheque £430. Mar 6 F. Black lent us £5,000 paying by cheque. Mar 8 We paid the following accounts by cheque in each case deducting a 21/2% cash discount: R. White £720; G. Green £960; L. Flip £1,600. Mar 10 Paid motor expenses in cash £81. Mar 12 J. Pie pays his account of £90, by cheque £88, deducting £2 cash discount. Mar 15 Paid wages in cash £580. Mar 18 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: A. Pony £540; B. Line & Son £700; T. Owen £520 . Mar 21 Cash withdrawn from the bank £400 for business use. Mar 24 Cash drawings £200. Mar 25 Paid W. Peat his account of £160, by cash £155, having deducted £5 cash discount. Mar 29 Bought fixtures paying by cheque £720. Mar 31 Received commission by cheque £120. Required: a) Xyz’s three column cashbook for the month of March 2021
The following transactions were obtained from the books of wine wholesaler co ltd for the month of March 2021.
Mar 1 Balances brought forward: Cash £620; Bank 7,142.
Mar 2 The following debtors paid their accounts by cheque, in each case deducting 5 per cent cash discounts:G.Slick £260; Fish £320;T old £420
Mar 4 Paid rent by cheque £430. Mar 6 F. Black lent us £5,000 paying by cheque.
Mar 8 We paid the following accounts by cheque in each case deducting a 21/2% cash discount: R. White £720; G. Green £960; L. Flip £1,600.
Mar 10 Paid motor expenses in cash £81.
Mar 12 J. Pie pays his account of £90, by cheque £88, deducting £2 cash discount.
Mar 15 Paid wages in cash £580.
Mar 18 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: A. Pony £540; B. Line & Son £700; T. Owen £520 .
Mar 21 Cash withdrawn from the bank £400 for business use.
Mar 24 Cash drawings £200.
Mar 25 Paid W. Peat his account of £160, by cash £155, having deducted £5 cash discount.
Mar 29 Bought fixtures paying by cheque £720. Mar 31 Received commission by cheque £120. Required:
a) Xyz’s three column cashbook for the month of March 2021
b) Discounts in the general Ledger.
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