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Question One

Enter the following transactions for August 2018 in thesubsidiary books of J. Mubanga, post them to the ledger accountsand extract a trial balance as at 31 July 2018.

2016
July	1	Opening balances	K
		Cash at Bank	70,000
		Inventory	650,000
		Trade receivables
		J. Thorsten	45,000
		T. Murphy	61,000
		Trade payables
		S. Kelly	22,500
		B. Butler	30,000
		Premises	400,000
		Furniture and Fittings	80,000
		Motor Van	65,000
		Capital – J. Mubanga	1,318,500

Transactions for the Month:

July 3            Purchased goods on credit from S. Kelly – K20, 000 (Their InvoiceNo. 82).

       5             Purchased goods on credit from B. Butler – K60, 000 (Their InvoiceNo. 196).

       7             Sold goods to Thorsten on credit – K28, 000 (Their Invoice No.48).

       9             Returned goods to S. Kelly – K2, 500 (Our Debit Note).

       14           Sold goods to T. Murphy on credit – K20, 000 (Their Invoice No49).

     16             Returned goods to B. Butler – K6, 800 (Our Debit Note No: 17)

     18             Return from J. Thorsten goods worth K3, 500 (Their Debit Note No:42)

     20             T. Murphy returned goods – £2,300 (Their Debit Note No. 68)

     23             Purchased Furniture on credit from W. Wills – £25,000.

     25             Invoice received from Martin & Co for £6,200 being fuelpurchased on Credit.

      28            Purchased goods from S. Kelly for £15,000 (Invoice No 109)

      29            Sold goods to Thorson on credit – £27,500 (Invoice No 50)

     30             Sold goods to T. Murphy on credit – £52,000 (Invoice No. 51)