K. Douglas had the following transactions during January 2020.
Jan 1, 2020
Introduced $7,500 cash into the business as Capital.
Jan 2, 2020
Purchased goods on credit from T. Richards, worth $2,000
Jan 4, 2020
Paid rent for one month, $1,000 by cheque
Jan 5, 2020
Paid electricity for one month $200 cash
Jan 10, 2020
Returns $200 worth of goods bought on credit to T. Richards
Jan 15, 2020
Purchased motor vehicle for cash, $1,000
Jan 20, 2020
Sold goods on credit to B. Ishi for $3,000
Jan 25, 2020
Owner withdrew $300 cash for his own personal expenses
Jan 26, 2020
Paid T. Richard the balance account less 5% discount by cheque
Jan 28, 2020
Sold goods for cash, $2,100
Jan 30, 2020
B. Ishi received a 10% settlement discount when he settled half of his total before the end of the month. He paid by cheque.
