Mariam is a trader. On 1 March 20–2 the balances in her cash book were:Cash $100 debitBank $494 creditThe following transactions took place in March 20–2:March 4 Paid for repairs to office equipment by cheque, $2937 Received a cheque from Nawaz, $11011 Purchased motor vehicle paying by credit transfer, $5 13013 Took $1 500 from the bank for personal use19 Paid $286 to Anwar by credit transfer21 Paid office expenses in cash, $6727 Cash sales, $2 15028 Paid wages in cash, $95331 Paid all cash into bank except $150a Prepare Mariam’s cash book for March 20–2. Balance the book and bring down thebalances on 1 April 20–2.b Explain the significance of the credit balance on the bank column on 1 March 20–2.c Explain why it is not possible to have a credit balance on the cash column.d Explain the term ‘contra’. Illustrate your answer with reference to an appropriate entryin the cash book in a
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