=+3. On 1st July, 1962, B. Hoad paid £2,000 into his business as capital.

The following transactions took place:

July 3 Purchased Motor Van for £800.

6 Purchased goods on credit from Vale & Co., £700.

8 Paid Rent £40.

14 Purchased goods on credit from B. Archall, £300.

16 Sold goods for cash, £200.

18 Sold goods on credit to D. Fale, £400.

21 Paid for Petrol and Oil, £20.

23 Sold goods on credit to G. Jones, £600.

25 Paid Vale & Co. £680 in full settlement.