Luanda Traders had the following balances at 1^st Jan 2015 Cash Sh. 180,000 (Dr.) Bank Sh. 67,000 (Cr.) During the month of Jan 2015, the...

Luanda Traders had the following balances at 1^st Jan 2015 Cash Sh. 180,000 (Dr.) Bank Sh. 67,000 (Cr.) During the month of Jan 2015, the following transaction took place;

Jan 2 cash sales Sh. 14,500
Jan 6 Mwangi a debtor settled his account of Sh. 45,000 by cheque less 5% cash discount
Jan 8 Sold goods on credit with Sh. 25,000
Jan 14 Paid salaries in cash 50,000
Jan 18 Settled Laboso‘s account of 60,000 by cheque less 3% cash discount.
Jan 21 Received a cheque of 84,000 from Rotich after deducting 10% cash discount
Jan22 Cash purchases paid by cheque sh. 65,000
Jan 24 Cash sales worth 340,000 directly banked Sh. 300,000 cash into the account
Jan 28 Took cash 39,000 for children‘s school fees
Jan 31 Banked all cash except Sh. 36,000

Prepare a dully balanced three column cash book

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sharon kalunda answered the question on September 5, 2019 at 13:57

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