J. Patel started a new business on 1 June. In your ledger write up the double entry accounts needed to record the following transactions:

Jun 1 Started a new business with £7,000 in cash Opened a bank account for the business and paid £6,500 of the cash into the bank account 6 Bought a motor van costing £1,950, paying by cheque 9 Bought office furniture costing £500 on credit from Elite Supplies 14 Received a loan of £1,000 in cash from P. Wilson 20 Returned some of the office furniture costing £150 to Elite Supplies because it was faulty 23 Bought machinery costing £750, paying by cheque 30 Paid Elite Supplies the amount owing to them £350 by cheque