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

May 1 Started a new business with £8,000 in cash 3 Paid £7,000 of the cash into a bank account for the business 5 Bought goods costing £350 on credit from G Moore 9 Bought office furniture costing £700, paying by cheque 14 Sold goods on credit priced at £450 to F Green 17 Bought motor van costing £5,000 on credit from Newtown Motors 20 Sold goods priced at £50 for cash 25 The firm paid G Moore £350 by cheque 30 Bought goods costing £75, paying in cash