Question 3. Cargo Wings provides the following data for the month. i. Invested in the business; Inventory 15,000; Cash 25,000; Motor Vehicle 10,000; Receivable 7,000; Machinery 8,000 & Creditors 15,000. i. Bought Goods from AR Electric store for $450 iii. Sales $2000 made on credit to Bashir Sons on March 15. Mr. Umair offered 5% discount if the payment will be made in the same month iv. Applied for Loan from Faysal Bank Ltd. of $ 15,000. v. Purchased office furniture from Interwood by paying $2400 half of the total amount. vi. Bashir Sons returned goods worth $500 vii. Sold Good to Rashid Ltd. for $3200 viii. Zakir Ltd purchased goods from us for $2300 ix. Habib Sons bought goods by paying $1200 cash and the remaining $800 will be paid next month x. Bashir sons paid the due amount on March 30. xi. Habib Sons paid $500 on March 30 xii. Gave away charity of cash Rs. 50 xiii. Omer brought his bedroom Chairs into the business worth Rs. 1,750 xiv. Commission paid as referral fee $1,300 xv. Returned Furniture of $500 purchased from Interwood and paid the remaining balance due. xvi. Bad Debts during the period was $600 xvii. Received the bank loan applied for. xviii. Business has suffered a loss of $1,500 Required: Prepare Journal, Ledger & Trial Balance from the data given above.

Please answer the question correctly. Thank you

Based on the following transactions, answer the following questions. i. ii. iii. iv. V. vi. vii. Purchased inventory with a cost of $28,300 on account. Sales on account to customers totalled $54,700. Payments made to employees for wages totalled $19,600. Cash collections from customers settling their accounts totalled $49,500. Invoice received from the utility company for $6,100 is due in 30 days. Payments totalling $19,500 were made to suppliers to settle part of the balance owing to them. Received a deposit of $1,800 from a customer for goods to be delivered next month.

EXERCISE (All exercise would be saved in one record)   Journalize the following transactions for the month of February 1: Sold merchandise on account for $10,000 (other income, other receivable,); Cost of Goods Sold $3,000 (Inventory, Cost of Sale) Received the utilities bill for $250.00 (accrued expense, utilities expense) Salaries for the week are $3,300 (salaries expense, wages payable) Received an invoice of $100 for advertising.   Create a new customer (use your own information), Term 3%, n/15, credit limit $1,000. Prepare the Customer List Report only for your account, include a column for term conditions and credit limits. (February 5)   Prepare a sales order (15 units of any product). In the Sales Order Register include a column with the name of the vendor. (February 7)   The invoice from the sales order above was delivered completely (February 9)   (Prepare an Invoice Register)   Prepare an Income Statement (February 28)   Prepare a Balance Sheet (February 28)…