On 1st January 2012 Manga traders had 180,000 cash in hand and a bank credit balance of Shs.57,500. During the month the following transactions...

      

On 1st January 2012 Manga traders had 180,000 cash in hand and a bank credit balance of Shs.57,500. During the month the following transactions took place.

3rd Jan:Cash sales Shs. 2,800
4th Jan:A debtor settled his accent of sh. 90,00 by cheque
10th Jan:Paid Salaries shs. 40,000 in cash.
12th Jan:Took cash sh. 35,000 to settle on personal debt.
23rd Jan:Received a cheque shs. 8460 from Ouru distribution after deducting 6% cash discount.
24th Jan: Deposits shs. 10000 in the bank from office cash.
25th Jan: Purchased stock worth shs.8950 on credit from Ngumo distributors
26th Jan: Cash sales banked directly shs.38000
27th Jan: A cheque received on 4th from a debtors was dishonored. The bank charged him 2500.
29th Jan: Settled creditors account shs. 6000 b cheque less 3% cash discount.
31st Jan: Bank all cash except shs.40,000

Required:Prepared a three column cash book duly balanced

  

Answers

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Kavungya answered the question on September 26, 2019 at 07:30

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