9 Joanne has just started-up a business. She introduced $10,000 of her own savings, equipment worth $2,500 and obtained a bank loan of $1,000. What is the correct balance on Joanne's capital account following these transactions? Fred started in business on 1 September. During June he made cash purchases of $5,200 and received credit purchase invoices for $12,500 of which $6,400 had been paid. What would be the balance of the purchases account in the general ledger at the end of June?