A new business student quips, "Accounting is easy. Debit is to add and credit is to subtract." Do you agree? Why or why not? Question 2 Complete the following table a Bought office machinery on credit from D Isaacs Ltd. The proprietor paid a creditor, C Jones, from his private funds. b C A debtor, N Fox, paid us in cash. d Repaid part of loan from P Exeter by cheque. e Returned some of office machinery to D Isaacs Ltd f A debtor, N Lyn, pays us by cheque. g Bought van by cash. Question 3 Complete the following table a Bought lorry for cash. b Paid creditor, T Lake, by cheque. C Repaid P Logan's loan by cash. d Sold lorry for cash. e Bought office machinery on credit from Ultra Ltd. f A debtor, A Hill, pays us by cash. g A debtor, J Cross, pays us by cheque. h Proprietor puts a further amount into the business by cheque. iA loan of $2,000 in cash is received from L Lowe. j Paid a creditor, D Lord, by cash. Account to be debited Account to be debited Account to be credited Account to be credited