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J singh started a business on the 1st october as a butcher. He had 1600 units in hand which he paid into the business. during october he had the following trabsactions.1 paid rent in cash -150 units2 purchased on credit from XYZ meat factory assorted meat valued at 780 units 3 made cash sales at 49 units4 purchased on credit from feather farm 20 chickens @10 units each5 sold on credit to highlands hotel 15 kilos @8 units6 returned 2 chickens to feather farm8 opened bank account and deposit 1000 units in it10 highlands hotel returned 3 kilos sausages12 made cash sales valued at 88 units15 paid salary to shop assistants in cash 50 units16 paid by cheque amount owing to XYZ meat factory less 10% discount17 sold on credit to nippy cafe 10 kilos steak @14 units per kilo20 bought shop counter for 75 units by check24 received payment from nippy cafe less 5% discount26 paid 600 units into bank28 bought weighing scales for cash30 withdrew 100 units cash from bank for use in the business31 paid salary in cash 60 unitsOpen a cash book a sales book a purchase book a returns inwards book and a returns outwards book for mr singh and make all the necessary entries (in date order) in them. Open a ledger and make all postings to the appropriate accounts (use folios of your own choosing). Balance the cash book at the end of the month and then prepare a trial balance.Notes 1 study each transaction in date order veru carefully to decide the book in which it is to be entered, make the entry and then make the postings to the appropriate ledger account.2 cross check all additions and other calculations.
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