Write up the asset and liability and capital accounts to record the following transactions in the records of G Powell.

19X3 July 1 15 23 31 Started business with £2,500 in the bank.

Bought office furniture by cheque £150.

Bought machinery £750 on credit from Planers Ltd.

Bought a motor van paying by cheque £600.

Sold some of the office furniture - not suitable for the firm - for £60 on credit to J Walker &c Sons.

Paid the amount owing to Planers Ltd £750 by cheque.

Received the amount due from J Walker £60 in cash.

Bought more machinery by cheque £280. LOP8