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Write up the following transactions in the T accounts:
March
1
Started business with
£120,000
in cash
2
Placed
£100,000
of the opening cash into a business bank account
3
Bought goods on credit
£3,500
from
Abe Books
4
Sold goods on credit
£500
to
A Prost
5
Bought a delivery van
£6,000
paying in cash
7
Cash sales
£700
11
Part repayment of
£500
to
by cash
14
Bought goods on credit
£1,200
from
17
Sold goods on credit
£1,200
to
20
returns goods to us valued at
£200
22
settles the bill and we offer a 5% discount
he pays in cash.
27
Bought stationary in cash
£250
28
Sold goods on credit
£500
to
29
We pay cash to
the amount owing and they give us a 10% discount.
30
The owner takes
£300
cash for personal use.
31
settles the bill in cash and we offer a 5% discount
Capital
March
£
March
£
Cash
March
£
March
£
Bank
March
£
March
£
Purchases
March
£
March
£
Sales
March
£
March
£
Returns In
March
£
March
£
Abe Books
March
£
March
£
A Prost
March
£
March
£
Van
March
£
March
£
Stationary
March
£
March
£
Discount Allowed
March
£
March
£
Discount Received
March
£
March
£
Drawings
March
£
March
£
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