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2.0 Business transactions (1 marks) Create at least 2 business transactions incurred during the financial...

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Accounting

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2.0 Business transactions (1 marks) Create at least 2 business transactions incurred during the financial year for each of the following books of original entry: a) Cash Book (receipt from customer, payment to supplier, income received in advance, prepaid expense transactions) b) Sales Day Book (2 credit sales transactions) c) Purchase Day Book (2 credit purchases transactions) d) Sales Returns Day Book (2 sales returns transactions) Purchase Returns Day Book (2 purchases returns transactions) f) General Journal (opening journal entry for capital contributed by owner, purchase of non- current asset on account, sales of non-current asset on account, drawings of goods transactions) 4.0 Books of original entry (2 mark) a) Prepare the corresponding books of original entry for each business transaction: i) Cash Book ii) Sales Day Book iii) Purchase Day Book iv) Sales Returns Day Book v) Purchase Returns Day Book vi) General Journal b) Record all the business transactions into the relevant books of original entry

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