Record the following transaction in the cash book below. Duly balanced. On 1st Jan 2015, Mugo traders had shs 22,500 in cash and shs 250,000...

      

Record the following transaction in the cash book below. Duly balanced.

On 1st Jan 2015, Mugo traders had shs 22,500 in cash and shs 250,000 at bank. During the month, the following transactions took place.
5th Jan Received a cheque of shs 45,250 form Wacu traders in full settlement of her debt after allowing a 5% cash discount.
25th Jan Paid Kandara traders shs 15,000 cash after deducting a cash discount of shs 600.
30th Jan Deposited all cash into the bank except shs 500.

  

Answers

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sharon kalunda answered the question on September 5, 2019 at 10:08

Next: Identify the type of ledger appropriate for the following accounts.
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