A Oldridge started a new business on 1 May20-7. In your ledger write up the double entry accounts needed to record the following transactions:

May 1 Started business with £5,000 in a business bank account 2 Bought goods on credit costing £750 from J Richardson 4 Withdrew £500 cash from the bank 6 Remrned goods costing £40 to J Richardson 7 Proprietor took £100 cash for personal use 9 Sold goods costing £250, receiving a cheque immediately 11 Sold goods on credit to K Stead £150, M Day £229 12 Paid rent £75 by cheque 14 K Stead returned goods priced at £24 to the firm 15 Paid motor expenses in cash £58 16 Received rent for premises sub-let £30 by cheque 19 Bought goods on credit costing £950 from S Ramsden 22 Paid wages £150 in cash 24 Received £126 by cheque from K Stead 25 Cash sales £88 26 Sold goods on credit to T Barnett £122, M Day £159 27 Returned goods £68 to S Ramsden 28 Bought office furniture costing £200, paying in cash 29 Proprietor took £50 by cheque for his private use 30 Paid J Richardson the amount owing of £710 by cheque 31 Paid rent of £75 in cash