Task – Complete the double entry for the above transactions and post to the ledger

accounts. The following are the transactions of Mrs Martin in January 2018

Jan 1 Introduced Capital into the bank account for the business K40,000
Debit Bank Account K40,000
Credit Capital Account K40,000

Jan 4 Purchased Equipment, paid by cheque K23,000

Debit –
Credit –

Jan 8 Purchased goods on Credit for Hennessy Ltd K8,000

Debit –
Credit –

Jan 10 Sold goods on Credit to R. Murphy K550

Debit –
Credit –

Jan 12 Paid Advertising by cheque K330

Debit –
Credit –
Jan 13 Cash Sales K580
Debit –
Credit –

Jan 14 R. Murphy paid the business K550 owed

Debit –
Credit –

Jan 16 Purchased goods on Credit Hennessy Ltd K4,000

Debit –
Credit –

Jan 20 Paid Hennessy Ltd K 10,000

Debit –
Credit –
Jan 22 Purchased goods on Credit from Peter & Co. for K1,500
Debit –
Credit –

Jan 23 Paid rent by cheque K 600

 Debit –
Credit –

Jan 24 Returned goods to Peter & Co. to the value of K50

Debit –
Credit –

Jan 25 Sold goods on Credit to K Shields K 200

Debit –
Credit –

Jan 26 The owner of the business withdrew K500 for the bank account for own
personal use
Debit –
Credit –

Jan 27 K. Shields returned goods to the value of K35

Debit –
Credit –

Jan 28 Purchased goods on Credit from Denver Ltd K1,000

Debit –
Credit –

Jan 29 Paid Denver Ltd K950 and received K50 discount which cleared the
account
Debit –
Credit –
Credit –

Jan 30 Sold goods on Credit K. Shields for K80

Debit –
Credit –

Jan 31 K. Shields cleared her account and was allowed 5% discount

Debit –
Debit –
Credit –