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Note: All sales are made at 50% markup

Required: 1) Journal Entries for the above business transactions 2) Ledger Accounts 3) Trial Balances for the month of Jan 2020

Flamingo Ltd. Following information has been extracted from the books of Flamingo Ltd. for the month of Jan 2020: DATE DESCRIPTION Jan 1, 2020 Stated business with cash at bank f 1,000,000 Jan 2, 2020 Purchased building for 500,000 and paid through cheque Jan 4, 2020 Sold goods to F & T Ltd. on credit for 20,000 Jan 5, 2020 Purchased typewriter for the Office for f 15,000 and paid through cheque Jan 6, 2020 Paid 2,000 for repair and maintenance of the building through cheque Jan 10, 2020 F & T Ltd. returned goods for f 1,000 and paid the f 10,000 through cheque Jan 15, 2020 Purchased Office Supplies for 500 and made a payment through cheque Jan 20, 2020 F&T Ltd. paid full amount outstanding in their account through cheque Jan 22, 2020 Purchased goods on credit from Zetco Ltd. for f 10,000 Jan 25, 2020 Received sales order from DRD Ltd. for 5,000. Jan 28, 2020 Paid Salaries and Wages for the month of January 5,000 Jan 31, 2020 Paid insurance premium for 1,000 Note: All the sales are made at 50% markup Required: 1) Journal Entries for the above business transactions. 2) Ledger Accounts 3) Trial Balances for the month of Jan 2020

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