EXERCISE 1:
1) BOOKS OF PRIME ENTRY:
Cash Receipt Book
Date Narrative Bank Receivables/ SLCA Cash sales
1.11.2016 capital $ 50,000
3.11.2016 Chris $ 6,000 $ 6,000
9.11.2016 David $ 5,600 $ 5,600
Purchases day book
Date Invoice no. Suppiler Net purchase Tax
2.11.2016 445556 Paul $ 5,000 $ -
7.11.2016 John $ 7,000 $ -
TOTAL $ 12,000 $ -
Sales day book
Date Invoice no. Customer Net Sales Tax
6.11.2016 David $ 12,000 $ -
Total $ 12,000 $ -
Cash payment book
Date Narrative Bank Payables Rent
4.11.2016 Payment $ 5,000 $ 5,000
5.11.2016 Rent $ 450 $ 450
8.11.2016 Van $ 7,000
total $ 12,450 $ 5,000 $ 450
Sales returns day book
Date Credit notes Customer Net Sales Tax
10.11.2016 5568 David $ 3,000 $ -
Petty Cash book
Receipts
Payments
Date Narrative Total Date Narrative
11.11.2016 Bank $ 100 12.11.2016 Stamps
2) THE LEDGER ACCOUNT
Dr Bank account Cr
AR 5600 5000 Payment
Capital 50000 450 Rent
Sales 6000 7000 Van
