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Prepare T-Accounts and Trial balance based on the provided information

Question 3a (25 marks) Ouestion 3a is based on B124 Book 2. Chapters 1, 2 and 3 (Completing Activity 2 1 in Chapter 2 of Book 2 and the Self-assessed Question 1 (SAO 1) at the end of Book 2 would be excellent preparation for this question ) Ken owns and manages a small business which sells toys to high street shops and market traders. Ken manages all aspects of the business including delivery and collection of the toys The business accounts are balanced at the end of each month On 1 July the balances on his accounts were as follows Account name Debit Credit Capital Van Bank 50,000 18,000 12,000 Receivables 30.00o Payables 10,000 00.009 09.000 During July the tollowing transactions took place No. Date Amount Transaction 1 2July 750 Ken pays by debit card to replace the tyres on the 3 July11.000 Ken receives payment from a receivable 3 7 July 2.500 4 9 July 4.500 Ken pays by bank transfer tme amount due to a Supplier Ken pays by debit card for petrol Ken invoices a new customer on 30 days credit 200 July 15 3.700 terms 7 580 Ken pays cash for advertising 18 July 20 July 21 2.500 Ken purchases toys for resale, agreeing 30 days credit terms 9 1,880 Ken purchases toys for resale and pays by cheque Ken withdraws cash out of the business bank account for personal use 0 31 2.200 July

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