2. On 2 July Fred set up in business as an estate agent. The following transactions occurred during the month of July: July 2nd Fred paid 10,000 into a bank account for the business. 3rd He rented an office for the business - the rent of 750 for July was paid. 4th Office furniture costing 2,400 was purchased on credit. A down payment of 600 was made immediately with the balance to be paid in three equal monthly instalments. 5th IT equipment costing 525 was purchased for the office. 6th Paid 155 for stationery. 13th Fred received a cheque for 600 as commission in respect of the sale of a clients home. 19th The home of another client was sold. The commission of 875 on this sale will not be received until August. 25th Paid 410 for advertising. 26th Further 97 paid for stationery. 28th Fred transferred 604 from his business bank account to his private bank account, 84 of which was to reimburse motor expenses incurred for business use. The remaining 520 was withdrawn for private purposes.

Required: Show the nominal ledger entries (using T-accounts) for the above transactions. Close off each T-account and prepare: a Trial Balance Statement of Profit or Loss Statement of Financial Position.