Prepare the following ledger accounts to record all the transactions which took place in the year to 30 September 2024.

Here are the ledger accounts for Joy Enterprise for the year ended 30 September 2024.

1. (i) Sales Ledger a/c
This account records the total sales revenue.

Date	Details	K	Date	Details	K
			Year end	Receivables	360,000
			Year end	Cash	280,000
				Bal c/d	640,000
Bal b/d	640,000

2. (ii) Receivables Ledger a/c
This account tracks amounts owed by customers.

• Opening balance: K200,000 (Debit)
• Credit sales: K360,000 (Debit)
• Receivables settled by cheque: K350,000 (Credit)
• Bad debts written off: K30,000 (Credit)
• Returns for credit sales: K45,000 (Credit)

Date	Details	K	Date	Details	K
Sep 30, 2023	Bal b/d	200,000	Year end	Bank	350,000
Year end	Sales	360,000	Year end	Bad Debts	30,000
			Year end	Returns Inward	45,000
			Year end	Bal c/d	135,000
	560,000			560,000
Oct 1, 2024	Bal b/d	135,000

3. (iii) Cash a/c
This account records cash inflows and outflows.

• Opening balance: K25,000 (Debit)
• Cash sales: K280,000 (Debit)
• Electricity paid by cash: K30,000 (Credit)
• Cash banked: K160,000 (Credit)
• Cash purchases: K70,000 (Credit)
• Carriage inward by cash: K20,000 (Credit)

Date	Details	K	Date	Details	K
Sep 30, 2023	Bal b/d	25,000	Year end	Electricity	30,000
Year end	Sales	280,000	Year end	Bank	160,000
			Year end	Purchases	70,000
			Year end	Carriage Inwards	20,000
			Year end	Bal c/d	25,000
	305,000			305,000
Oct 1, 2024	Bal b/d	25,000

4. (iv) Bank a/c
This account records transactions through the bank.

• Opening balance: K120,000 (Debit)
• Receivables settled by cheque: K350,000 (Debit)
• Cash banked: K160,000 (Debit)
• Cheque payments to payables: K200,000 (Credit)
• Loan repaid by cheque: K40,000 (Credit)
• Rent paid by cheque: K170,000 (Credit)
• Wages paid by cheque: K140,000 (Credit)

Date	Details	K	Date	Details	K
Sep 30, 2023	Bal b/d	120,000	Year end	Payables	200,000
Year end	Receivables	350,000	Year end	Loan	40,000
Year end	Cash	160,000	Year end	Rent	170,000
			Year end	Wages	140,000
			Year end	Bal c/d	80,000
	630,000			630,000
Oct 1, 2024	Bal b/d	80,000

5. (v) Electricity a/c
This account records electricity expenses.

• Opening balance (Prepaid): K40,000 (Debit)
• Electricity paid by cash: K30,000 (Debit)

Date	Details	K	Date	Details	K
Sep 30, 2023	Bal b/d (Prepaid)	40,000	Year end	Income Statement	70,000
Year end	Cash	30,000
	70,000			70,000

6. (vi) Rent a/c
This account records rent expenses.

• Opening balance (Accrued): K50,000 (Credit)
• Rent paid by cheque: K170,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Bank	170,000	Sep 30, 2023	Bal b/d (Accrued)	50,000
Year end	Income Statement	120,000
	170,000			170,000

7. (vii) Wages a/c
This account records wages expenses.

• Wages paid by cheque: K140,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Bank	140,000	Year end	Income Statement	140,000
	140,000			140,000

8. (viii) Bad Debts a/c
This account records bad debts written off.

• Bad debts written off: K30,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Receivables	30,000	Year end	Income Statement	30,000
	30,000			30,000

9. (ix) Purchases a/c
This account records the cost of goods purchased.

• Cash purchases: K70,000 (Debit)
• Credit purchases: K170,000 (Debit)
• Returns for credit purchases: K15,000 (Credit)

Date	Details	K	Date	Details	K
Year end	Cash	70,000	Year end	Returns Outward	15,000
Year end	Payables	170,000	Year end	Income Statement	225,000
	240,000			240,000

10. (x) Payables a/c
This account tracks amounts owed to suppliers.

• Opening balance: K110,000 (Credit)
• Credit purchases: K170,000 (Credit)
• Cheque payments to payables: K200,000 (Debit)
• Returns for credit purchases: K15,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Bank	200,000	Sep 30, 2023	Bal b/d	110,000
Year end	Returns Outward	15,000	Year end	Purchases	170,000
Year end	Bal c/d	65,000
	280,000			280,000
			Oct 1, 2024	Bal b/d	65,000

11. (xi) Return Inward a/c
This account records goods returned by customers.

• Returns for credit sales: K45,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Receivables	45,000	Year end	Income Statement	45,000
	45,000			45,000

12. (xii) Return Outwards a/c
This account records goods returned to suppliers.

• Returns for credit purchases: K15,000 (Credit)

Date	Details	K	Date	Details	K
			Year end	Payables	15,000
Year end	Income Statement	15,000
	15,000			15,000

13. (xiii) Loan a/c
This account tracks the bank loan.

• Opening balance: K300,000 (Credit)
• Loan repaid by cheque: K40,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Bank	40,000	Sep 30, 2023	Bal b/d	300,000
Year end	Bal c/d	260,000
	300,000			300,000
			Oct 1, 2024	Bal b/d	260,000

14. (xiv) Carriage Inwards a/c
This account records the cost of bringing goods into the business.

• Carriage inward by cash: K20,000 (Debit)

Date	Details	K	Date	Details	K
Year end	Cash	20,000	Year end	Income Statement	20,000
	20,000			20,000