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  3. the following transactions has been captured in th

The following transactions has been captured in the books of Diego and Sons a sole...

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Accounting

The following transactions has been captured in the books of Diego and Sons a sole trader at Agbobloshi. Jan. 1: Started commercial business with 8000 cash Jan. 4: Deposited 1000 of the cash used to start business in the bank account. Jan. 6: Purchased goods from on credit from Nasco Limited 2,000. Jan. 8: Purchased plant from Martins for 4,000 Jan. 12: Sold goods to Ibrahim on credit 400. Jan. 15: Took a loan from Betty 400 Jan. 18: paid rent by cheque 100 Jan. 20: Bought good from Graham paying 5,000 cash Jan. 21: Ibrahim returned goods worth 300 cedis. Jan. 26: Diego withdrew 500 cedis from the cash till for personal use. Jan. 28: introduced additional capital of 400 depositing by cheque Jan. 31: Sold goods for cash 300 Jan. 31: paid all of Bettys loan by cheque Required: (a) Post the entries using the double entry principle a) Balance off the accounts b) Using the balances indicate the balance brought down for each account.

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