Double Entry Assignment

Assignment Task

Exercises

1) You are required to show the double entry effect of the following transaction

• July 1.Started business with N500.00 cash.

• Bought goods for cash N85.00

• Bought goods on credit NI 19 from K.Nasru.

• Sold goods for cash N42.00.

• Returned goods to K.Nasiru N28.00

• Bought on credit N98 from S.Dawuda.

• Returned goods to S. Dawuda N19.00 Sold goods to A.

• Femi N55.00 on credit.

• Paid K. Nasiru's account by cash N88.00

• A. Femi paid his account in cash.

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