QUESTION 1 Adekunle & Sons Trading Company, a wholesale distributor of building materials located in Abuja, commenced business on 1 January 2024. The following transactions occurred during January 2024: 1 Jan: Adekunle introduced N2,500,000 cash as capital into the business. 3 Jan: Purchased goods on credit from Dangote Supplies Ltd for N480,000. 5 Jan: Sold goods on credit to Emeka Builders Ltd for N320,000. 7 Jan: Paid rent by bank transfer N75,000. 10 Jan: Received payment from Emeka Builders Ltd N200,000 by cheque. 15 Jan: Purchased office equipment for cash N150,000. 18 Jan: Returned goods worth N30,000 to Dangote Supplies Ltd. 22 Jan: Sold goods for cash N95,000. 25 Jan: Paid Dangote Supplies Ltd N300,000 by cheque in part settlement. 28 Jan: Adekunle withdrew N50,000 cash for personal use. 31 Jan: Paid salaries N120,000 by bank transfer. Required: (a) Identify and explain FOUR books of prime entry that would be used to record the above transactions, stating which transactions would be recorded in each book. (8 marks) (b) Record ALL the transactions listed above in the relevant ledger accounts using the double entry bookkeeping system. (12 marks) Total: 20 marks