After working for many years, Mike decided to set up a service business. For each of the following transactions, determine if double entries are required. If required, write the account and amount to be debited and credited. If not required, just indicate as No entries required. (a) Mike started a business by investing $10,000 of his savings into it. A bank account under the business name was opened. (b) Bought some office furniture costing $7,670 from Norman Ltd. A cheque of $2,000 was issued as a deposit, the remainder to be paid in 2 weeks time. (c) Signed a contract to rent an office space at $2,550 per month. (d) As the business needed a computer, he decided to contribute his own brand new one to the business. The computer was bought at $3,900. (e) Received a cheque of $3,210 for service rendered to a client. (f) Mike discovered that one of the office chairs bought from Norman Ltd was not of the correct model and returned it to Norman Ltd. The office chair costs $120. (g) $200 cash was withdrawn from the bank to be used in the office. (h) Billed Joe $4,900 for service rendered. (i) Mike paid the amount owing to Norman Ltd with a personal cheque. (j) He took $18 from the office cash to buy a birthday present for his son. (k) In need of more funds for the business, Mike borrowed $7,000 from his friend and received a cheque for it. (l) Issued a cheque to pay office rent $2,550. (m) Received a cheque $4,900 for amount owing from Joe. (n) Mike won the third prize in a lucky draw and received $5,000 prize money. He immediately used $2,880 to buy a diamond ring for his wife and banked the rest into his personal bank account. (o)Paid $150 interest to his friend with office cash.