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The account of Erick Omondi & Sons showed the following balances as at 30th June 2018:
Cash in hand 60,000
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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