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The following transactions were extracted from the books of Kwabeng enterprise for February 2020
February 03 Commenced business with a capital of GH15,000 cash
05 Purchased good GH6,000 07 Purchased goods on credit from S & Co. GH3,000
10 Purchased furniture GH2,400 10 Returned goods to S & Co. GH600.
11 Sold goods GH3,900 12 Received an invoice from Smith GH5,000
15 Sold goods on credit to DD GH2,250 20 Paid salaries GH960
22 Purchased a van GH50,000 on credit from Silver Star Auto Ltd.
24 Received commission GH75
25 Goods returned by DD GH450
25 Received cash from DD GH1,500
26 Paid to S & Co. GH1,800
27 Withdrew from business GH900 for personal use
28 Borrowed from KK GH1,500
Required:
1. Record the above transactions in the appropriate journals 2. Post entries to relevant ledger accounts 3. Prepare a trial balance.
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