ang, Shanti Mays 11 Time show Amare d tomatically rawers will automatically save as you proceed through the Effects of transactions on financial position The following transactions were undertaken by K. Pelham during the month of January 2019. Ignore GST. January 1 2 2 3 6 15 22 25 K. Pelham withdrew $850 cash for personal use. Purchased new equipment for $5000, paid $500 deposit with the balance to be paid within 60 days Paid for advertising in the local newspapers, $510 Paid $320 to creditors for office supplies that had been purchased on credit in the previous month. Paid salaries of $970. Received $500 from customers to reduce their account balances. Printing fees of $12000 were due during the month. Of this, 20% of the fees were collected in cash and 80% will be paid within 60 days. Received $25,000 cash from customers against services provided. Question 2 Suggest an account title for each item described and classify th income or expense. [16 marks] P 2 c 7 8 9 U J M K L O P A. L Prise ? " . 11+ 3 3 Ow Backspace Lock Enter 7 Shift Polip