i) Sales ledger – Records all credit sales of a business
ii) Private ledger – Records owners capital and drawing / exclusively used by owner(s)
iii) Nominal ledger – Maintains revenue and expense accounts such as sales and
i. Purchases
iv) Cash book – Contains cash and Bank accounts
sharon kalunda answered the question on May 22, 2019 at 12:07
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Sales 50,000
Expenses 10% of sales
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Calculate:
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(iv) Net profit
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(a)...(Solved)
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(a) Received cheques from debtors totaling to KSh. 80,000 on June 2nd
(b) June 5th, paid telephone bills Sh. 1200 cash
(c) June 8th, withdrew Sh. 16000 from bank for office use.
Enter the above information in the two – column cash book given below and balance it off
Kelly Traders
Two – Column Cashbook
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