On Jan. 1st 2017, Precious traders had shs. 130,000 cash in hand and bank credit balance of sh.134, 000. During the month the following transactions took...

      

On Jan. 1st 2017, Precious traders had shs. 130,000 cash in hand and bank credit balance of sh.134, 000. During the month the following transactions took place;

Jan. 2nd Cash sales of shs.215,000

Jan. 5th Debtor settled his account of sh, 800,000 by cheque less 5% cash discount

Jan. 15th Paid salaries sh. 40,000 in cash

Jan 20th Settled a creditors account of sh. 80,000 by cheque less 2% cash discount.

Jan. 21st . Received a cheque for sh. 84,600 from Kilelu traders after deducting 6%
cash discount

Jan 24th . Deposited sh. 100,000 into bank from office cash 200,000..

Jan 25th Cash sales banked directly

Jan 26th A cheque received on January 5 from a debtor was dishonoured.

Jan 27th . Purchased goods worth sh. 20,000 on credit

Jan 31st . Banked all the cash except sh. 50,000

Prepare:- A three column cash book duly balanced

  

Answers


Maurice
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maurice.mutuku answered the question on August 19, 2019 at 13:29


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