2.3 Write up the asset and liability and capital accounts to record the following transactions in the records of F Murray. 20X7 July 1 Started business with 15,000 in the bank. 2 Bought office furniture by cheque 1,200. 3 Bought machinery 1,400 on credit from Trees Ltd. 5 Bought a van paying by cheque 6,010. ## 26 Chapter 2 . The double entry system for assets, liabilities and capital June " AF 8 Sold some of the office furniture - not suitable for the business - for 150 on credit to D Twig & Sons 15 Paid the amount owing to Trees Ltd 1,400 by cheque. 23 Received the amount due from D Twig & Sons 150 in cash. 31 Bought more machinery by cheque 650. 2.4 You are required to open the asset and liability and capital accounts and record the follow- ing transactions for June 20x8 in the records of P Bernard. 20x8 1 Started business with 12,000 in cash. 2 Paid 11,700 of the opening cash into a bank account for the business. 5 Bought office furniture on credit from Dream Ltd for 1,900. 8 Bought a van paying by cheque 5,250. 12 Bought equipment from Pearce & Sons on credit 2,300. 18 Returned faulty office furniture costing 120 to Dream Ltd. 25 Sold some of the equipment for 200 cash. 26 Paid amount owing to Dream Ltd 1,780 by cheque. 28 Took 130 out of the bank and added to cash. 30 F Brown lent us 4,000 - giving us the money by cheque. ## *+ IF FF IF "! *+