Hello, I need assistance with question 7. I\'m not very good at double entry, so any explanations would be helpful. However, liliu (ii) Trial balance after balancing off the alMUUTTUU ompany u to Q7 R. Poon was having a whale of a time trying to get a trial balance for his como Redwar. He had the following transactions during the month of May. He asks voor prepare the book entries and a trial balance. 1 May Invests £8,000 in his business bank account. 2 May Purchases £2,000 goods for cash from E. Skimo. £4,000 of goods on credit from S. Eal. £1,000 of goods on credit from P. Olar. 4 May Sells £1,500 goods for cash to A.R.C. Tic. £5,000 goods on credit to H. Unter. £3,000 goods on credit to M. Dick. 7 May M. Dick returns £2,000 goods unpaid saying that they were rotting. 8 May R. Poon sends M. Dick\'s £2,000 goods (that he had originally purchased from S. Eal for £1,800) back unpaid because he can\'t stand the smelt 10 May Purchases another £1,200 of goods on credit from S. Eal. 11 May H. Unter buys on credit £1,600 of goods from R. Poon. Solution PURCHASE ACCOUNT S.EAL A/C (CREDITOR) P.OLAR A/C (*CREDITOR) DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 2-May TO CASH 2000 2-May BY PURCH A/C 4000 2-May BY PURCH A/C 1000 2-May TO S .EAL 4000 10-May BY PURCH A/C 1200 20-May TO BANK 750 2-May TO P.OLAR 1000 8-May TO PUR. RETURN 1800 31-May BY CL BALANCE 250 10-May TO SEAL 1200 20-May TO BANK 3400 31-May P&L A/C 8200 31- May CL BAL - - SALES ACCOUNT H.UNTERA/C (DEBTOR) M.DICKI A/C DEBTOR DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 4-May BY CASH 1500 4-May SALES A/C 5000 4-May SALES A/C 3000 4-May BY H.UNTER 5000 11-May SALES A/C 1600 7-May SALES RETURN 2000 4-May BY M.DICKI 3000 21-May BY BANK 2000 21-May BY BANK 800 11- May TO H.UNTER 1600 31-May CL. BAL 4600 (5000+1600-2000) 31-May TO CL. BAL 200 31-May P&L A/C 11100 SALES RETURN ACCOUNT DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 7-May TO DICKI 2000 P&L A/C 2000 PURCHASE RETURN ACCOUNT DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 8-May BY S.EAL 1800 31- May P&L A/C 1800 WAGES A/C DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 31-May BANK A/C 800 31-May P&L A/C 800 RENT A/C DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 31-May BANK A/C 500 31-May P&L A/C 500 ELECTRICITY EXP A/C DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 31-May BANK A/C 75 31-May P&L A/C 75 STATIONERY A/C BANK INTEREST A/C DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 15-May BY BANK - 250 31-May BANK A/C 25 31-May P&L A/C 250 31-May P&L A/C 25 BANK A/C CAPITAL A/C DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 1-May BY BANK 8000 1-May CAPITAL A/C 8000 3-May CLOSING BALANCE 8000 15-May BANK INT . A/C 250 20-May S.EAL 3400 20-May P.OLA 750 CASH A/C 21-May h.unter 2000 DATE PARTICULAR AMOUNT (DR) AMOUNT (CR) 21-May M.DICKI 800 2- May PURCHASE 2000 31-May WAGES 800 4-May SALES 1500 31-May RENT 500 CL. BALNANCE 500 31-May ELEC .