Prepare a three-column cash book for KAAKYIRE for June 20X4, detailing discount allowed, cash, and bank transactions.

Here is the three-column cash book for KAAKYIRE for the month of June, 20X4:

$$\textbf{Three-Column Cash Book}$$

Date	Particulars	Folio	Discount Allowed (GH¢)	Cash (GH¢)	Bank (GH¢)	Date	Particulars	Folio	Discount Received (GH¢)	Cash (GH¢)	Bank (GH¢)
Jun 1, 20X4	Balance b/d			5,000	10,000	Jun 5, 20X4	Supplier				500
Jun 3	Sales			1,000	1,000	Jun 10	Creditor		200
Jun 15	Customer		50		3,000	Jun 12	Rent Expense			1,000
Jun 20	Bank (C)			2,000		Jun 20	Cash (C)				2,000
Jun 30	Customer		20	500		Jun 25	Salaries Expense			1,500
						Jun 30	Balance c/d			6,000	11,500
	Total		70	8,500	14,000		Total		200	8,500	14,000
Jul 1, 20X4	Balance b/d			6,000	11,500

Explanation of entries:

• June 1: Opening balances for Cash and Bank are recorded on the debit side.
• June 3: Cash sales (GH¢1,000) and bank sales (GH¢1,000) are recorded on the debit side.
• June 5: Payment to a supplier by cheque (GH¢500) is recorded on the credit side in the Bank column.
• June 10: Discount received (GH¢200) is recorded on the credit side in the Discount Received column.
• June 12: Rent paid in cash (GH¢1,000) is recorded on the credit side in the Cash column.
• June 15: Bank receipt from a customer (GH¢3,000) is recorded on the debit side in the Bank column, and the discount allowed (GH¢50) is recorded in the Discount Allowed column.
• June 20: This is a contra entry. Cash withdrawn from the bank for office use (GH¢2,000) increases cash (debit Cash, credit Bank).
• June 25: Salaries paid in cash (GH¢1,500) are recorded on the credit side in the Cash column.
• June 30: Cash received from a customer (GH¢500) is recorded on the debit side in the Cash column, and the discount allowed (GH¢20) is recorded in the Discount Allowed column.
• June 30: The Cash and Bank columns are balanced. The Balance c/d (carried down) is placed on the credit side to make the totals equal.
• July 1: The Balance b/d (brought down) is recorded on the debit side for the next month.

The final cash balance for June 20X4 is GH¢6,000 and the final bank balance is GH¢11,500.