Question 3 [37 marks] Linda started her clothing business, Linda Fashion, last month. The following...
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Question 3 [37 marks] Linda started her clothing business, Linda Fashion, last month. The following transactions were made in June 2021. June: 1) Linda started the business with RM15,000 cash and office equipment worth RM5,000. 3) Linda opened a business bank account with Citibank and deposited RM7,000 cash. 4) Purchased few boxes of long dress amounting RM2,500. Payment by cash. 8) Cash sales RM600 to Riz Boutique. 9) Credit purchases of long pants worth RM3,250 from Apparel Trading. 11) Sold long dresses for RM4,500 to Pretty Ladies Enterprise. 13) Credit sales to Diana Enterprise RM3,500. 20) Make full settlement to Apparel Trading for the amount owed. Payment by cheque. 24) Received cheque from Pretty Ladies Enterprise for the amount due. 25) Diana Enterprise returned defective goods amounting RM250. You are required to: a) Record the above transactions in general journal; [10.5 marks] b) Prepare ledger entries and balancing off the ledgers. [14.5 marks] c) Prepare trial balance. [12 marks]
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