decade in a leading Software Firm, Vinay and Sheela Kapoor Decided to set up their own software firm, Kapoor Software Limited ,on June1.Each of them deposited Rs.30000 in the company's bank account in exchange for 3000 shares of Rs.10 eachAmit Lal an old friend of Kapoor's joined the company as office manager on a monthly salary of Rs.7000, no matter how many days he showed up at work. Amit paid into bank all customer's receipts and made all payments by cheques. Although Amit had no knowledge of accounting, he carefully filled the company's letters, invoices and other papers. Also, he noted down details of cheques received and issued in his diary. The following information is available from Amit's file and diaryJune 1Borrowed Rs.25000 from Canara BankSheela ordered a computer costing Rs.42000June 2 Hired an office room on a monthly rental of Rs 2500 payable on the first day of the month and paid the rent for June