M Sanchez started a new business on 1 October. In your ledger write up the double entry accounts needed to record the following transactions: LO3 Oct 1 Started business by placing £5,000 in a business bank account 3 Bought office equipment costing £750 on credit from Systems Ltd 5 Took £250 out of the bank and put it in the cash till 10 Bought motor van costing £1,750 paying by cheque 12 Received a loan of £2,000 by cheque from S Ramsden 15 Returned some of the office equipment costing £56 to Systems Ltd because it was faulty 20 Bought some machinery costing £250 paying by cheque 23 Bought some shop fittings costing £175 paying in cash 26 Paid Systems Ltd the amount owing to them £694 by cheque 31 Sold some of the shop fittings because they were unsuitable and received £60 in cash