1. Complete the columns to show the effect of the following transactions:

No	Transaction	Effect Upon
		Assets	Liabilities	Capital
1	Bought a motor van on credit $500
2	Repaid by cash a loan owed to P Smith $ 1000
3	Bought goods for $ 150 paying by cheque
4	The owner puts a further $ 5,000 cash into the business
5	Bought goods on credit $ 220
6	The owner takes out $ 100 cash for his personal use
7	A debtor returns to us $ 80 goods. We agree to make an allowance for them
8	We pay a creditor $190 by cheque