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  3. the following transactions were extracted from the

The following transactions were extracted from the books of Kwabeng enterprise for February 2020 February...

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Accounting

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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