Accounting – 5.4 Clubs and societies | e-Consult

Question 2

The following transactions occurred for a small business during the year ended 31st December 2023:

• 1st January: Balance £1,800 (Credit)
• 10th January: Receipt from customer £350
• 20th January: Payment for stationery £25
• 15th February: Receipt from customer £1200
• 28th February: Payment for advertising £80
• 10th March: Payment for rent £600
• 31st December: Balance £2,100 (Debit)

Prepare the Receipts and Payments account for the year ended 31st December 2023.