beginning of October Mr. Twister decided to set up a company. He will operate a joinery. 1) Mr. Twister used his own savings to finance purchase of equipment (30). 2) To finance the rest of his business he received a bank loan in the amount of 70 . This money he used to buy necessary inventory (10) and car(60) end of October Three customers paid in cash ( 15 in total) however the last customer promised to pay the invoice next month. This order has a value of 5. November Mr. Twister bought inventory for 25 . He paid cash 15 , the rest he will pay next month. He sold all orders for 40 in cash. He decided to pay himself a salary of 10 . At the end of the month he received an invoice to pay electricity (3) and insurance (2). Regarding receivable he made an agreement with a debtor (fourth customer from October) not to pay the debt at once but to make the regular payments of 1 per month starting November