On 1^st January 2015, Ngunjiri had shs.15,000 in hand and bank overdraft of sh.25,000. During the month the following transactions took place: January 2: Cash sales directly...

      

On 1^st January 2015, Ngunjiri had shs.15,000 in hand and bank overdraft of sh.25,000.
During the month the following transactions took place:

January 2: Cash sales directly banked sh40,360
January 4; Bought stock of goods in cash sh.2,400
January 6: Received a cheque of sh.97,800 from Karanja after allowing him a cash discount of Sh. 2,200.
January 9: Paid Mung‘athia, a creditor sh.65,800 by cheque after deducting 6& cash discount.
January 14; Paid salaries sh.8,000 in cash.
January 17: Mwatela, a debtor settle his account of sh.75,000 by cheque less 10% cash discount.
January 24; Withdraw sh.30,000 from bank for office use.
January 28: Bought stationery in cash sh.10,000.
January 31; Withdraw sh.7,000 from bank for private use.
Required
Prepare the three column cash book duly balanced.

  

Answers

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sharon kalunda answered the question on September 4, 2019 at 12:28

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