e. The personal expenses incurred by the owner should be recorded in the drawings account (2 marks each) Question 5 Below are the transactions for Alex in Jan 2018 1 Alex commenced business by depositing cash RM80,000 4 A machine was purchased and paid for with company cheque for RM42,000 8 Alex purchased goods for resale amounting to RM17.500 on credit 12 Alex made a cash sales of RM4.800, cost of good sold was RM2.600 16 Alex received a bank loan of RM30,000, the money was credited to the business in the bank as capital bank account 20 Alex brought in his personal car for business use, the car was valued at RM65,000 23 Alex purchased goods for resale amounting to RM35,600, he paid the supplier by cheque 27 Alex paid supplier RM17,000 for the goods purchased on 8 Jan 2018, discount 30 Alex bought a computer for RM5,200 by cheque received RM500 Sy