Return to your answer to Review question 7.5 and prepare a balance sheet as at 30 September.

Data From Review Question 7.5:

Royston starts his own business on 1 September, operating as a wholesaler of novelty goods. His transactions during September were as follows:

Sep 1 Transfers \(£ 750\) of his savings into a business bank account.

3 Borrows \(£ 3,000\) from LloydWest Bank, repayable in three years' time.

5 Pays \(£ 320\) to hire a van for September, using debit card.

7 Buys essential IT equipment for the business, paying \(£ 2,200\) by debit card.

9 Buys goods for resale, paying by cheque \(£ 760\).

11 Buys goods for resale \(£ 570\) on time from J. Collins.

13 Sells goods for \(£ 930\); customer pays by bank transfer.

15 Returns unsatisfactory goods to J. Collins, original cost of which was \(£ 120\).

17 Buys goods for resale on time from M. Pembridge, \(£ 890\).

19 Sells goods on time \(£ 1,770\) to E. Barrett.

21 Pays \(£ 450\) cheque to J. Collins.

23 Receives \(£ 590\) cheque from \(E\). Barrett on account.

25 Takes \(£ 280\) from business bank account to pay for personal living expenses.

27 Pays staff wages for September, \(£ 410\) by bank transfer.