7. For each of the following transactions give the Taccount that will be debited (DR) and the one credited (CR) (12 marks) Example: The company buys a machine for 20,000 using a bank cheque Answer: DR Machine 20,000 and CR Bank 20,000 Example the company buys equipment for 10,000 using cash Answer DR Equipment 10,000 and CR Cash 10,000 a) The owner starts the business with 1000 cash b) The company buys stationary for 40 on credit from ADF Ltd C) The company sells goods to CG Ltd for 30,000 and receives a cheque for the goods d) The owners withdraw cash for their own use (200) e) The company buys a car for 30,000 using a bank loan 1) The sells goods to TK Ltd on credit for 3500