On January 1, 2016, Mr. Wale commenced business as a sole trader with N10,000,000, which he paid into the business bank account. He purchased a van for N6,000,000 from Mallam Tanko and paid half of the amount due by cheque on January 2, 2016. The following transactions took place in the month of January 2016:

• Jan 2: Paid rent of N500,000 for two years in advance for the business premises by cheque.
• Jan 3: Purchased goods worth N2,000,000 from Granules Limited and paid half of the amount by cheque so as to enjoy a cash discount of 4%.
• Jan 4: Purchased furniture for N200,000 and computers for N250,000 by cheque.
• Jan 6: Conducted sales promotion for one month, offering cash and trade discounts as follows:
  • 5% discount on cash sales
  • 10% trade discount for sales above N500,000
• Jan 8: Sold goods for cash to Sanders Limited for N340,000.
• Jan 10: Sold goods to Miles and Stone Limited for N1,000,000, who paid 75% by cheque.
• Jan 12: Mr. Bobby purchased goods valued at N100,000 and paid in full by cash.
• Jan 13: Deposited N300,000 cash in the bank.
• Jan 15: Paid salaries by cheque (N80,000) and electricity bill by cheque (N10,000).
• Jan 20: Paid the sum of N1,750,000 to Mallam Tanko for the van by cash.
• Jan 27: Mr. Wale withdrew N10,000 for personal expenses.
• Jan 30: Cash sales of N40,000 were made.

Required:
a. Prepare a three-column cash book. (6 Marks)
b. Prepare the ledger accounts for the transactions. (8 Marks)
c. Prepare a trial balance as at January 31, 2016. (6 Marks)