Write up the asset and liability and capital accounts to record the following transactions in the records
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Write up the asset and liability and capital accounts to record the following transactions in the records of G Powell.
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19X7 July 1 Started business with 2,500 in the bank. 2 Bought office furniture by cheque 150. 3 Bought machinery 750 on credit from Planers Ltd. 5 Bought a motor van paying by cheque 600. 8 Sold some of the office furniture - not suitable for the firm for 60 on credit to ..15 J Walker & Sons. Paid the amount owing to Planers Ltd 750 by cheque. 23 Received the amount due from J Walker & Sons 60 in cash. 31 Bought more machinery by cheque 280.
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