Business, 21.11.2020 14:00 ashliemallen

On March 2020 ABC Ltd traders had cash in hand sh. 217,500 and cash at bank sh. 625,000. During the month the following transactions took place.
March 2 Sold goods for cash sh. 125,000.
March 3 Paid insurance by cheque sh.253, 750.
March 6 received a cheque for sh. 192,000 from XYZ after allowing her a discount of
3.5%.
March 12 Bought stationery by cheque sh.212, 500.
March 16 Settled Mwamba's account of sh. 100,000 in cash having deducted sh.2, 000
cash discount.
March 18 received a cheque for sh. 375,000 in respect of cash sales.
March 21 Paid wages sh. 60,000 in cash.
March 22 Withdrew sh 75,000 from bank for office use.
March 25 withdrew sh. 12.500 cash for private use.
March 28 Received sh. 41,250 cash from Malenya in settlement of his account, less sh.
1,650 cash discount.
March 30 Bought goods worth sh.120, 000 on credit from Makako Ltd.
March 31 deposited all the money into the bank except sh. 62,500.
Prepare a three column cash book duly balanced.
(11 Marks)
TINTON

Answers: 3

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On March 2020 ABC Ltd traders had cash in hand sh. 217,500 and cash at bank sh. 625,000. During the...

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