The account of Erick Omondi Sons showed the following balances as at 30th June 2018:

The account of Erick Omondi & Sons showed the following balances as at 30th June 2018:

Building 300,000

Machinery 240,000

Debtors 30,000

Cash in hand 60,000

Creditors 8000

Capital 622,000

The following transactions during the 1st week of July 2018:

July 1 – bought stock for Cash 20,000

July 2 – Paid a creditor by Cash 5,000

July 3 – Sold goods for cash 10,000

July 4 – Received a check from a debtor 24,000

July 5 – Purchased stock by check 16,000

July 6 – A debtor paid by cash 2,000


I) Open ledger accounts and enter the balances on 1st July 2018, then record the transactions and balance the account on 7th July 2018

II) Extract a trial balance as at 7th July 2018

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