1
Enter the following transactions, completing the double entry in the books for the month of
May 2007:
2007
May 1 Started in business with £9,000 in the bank and £1,000 in cash.
2 Purchased goods £290 on credit from D James.
3 Bought fixtures and fittings £1,150 paying by cheque.
5 Sold goods for cash £140.
6 Bought goods on credit £325 from C Monty.
10 Paid rent by cash £200.
12 Bought stationery £45, paying in cash.
18 Goods returned to D James £41.
21 Received rent of £25 by cheque for sublet of corner space.
23 Sold goods on credit to G Cross for £845.
24 Bought a van paying by cheque £4,100.
30 Paid the month’s wages by cash £360.
31 The proprietor took cash for his own personal use £80.