In June 20XX, Prasanna set up a debt rating service as a sole proprietorship. At the end of the month, the business had the following balances: Cash, 33,000; Trade Receivables, 32,000; Office Supplies, 31,000; Office Equipment, 35,000; Trade Payables, 31,000; Prasanna's Capital, 310,000. The following transactions took place in July: (a) Paid June salaries, 3400. (b) Billed clients for services, 32,000. (c) Bought office equipment for cash, 1,000. (d) Bought office supplies on credit, 3100. (e) Withdrew cash for personal use, 31,000. (f) Provided services for cash, 318,000 (8) Prasanna invested in the business, 315,000. (h) Collected payments for past invoices, 31,500. (i) Paid electricity expense, 300. (1) Paid for past purchases of office supplies, 3500, (k) Paid July salaries, 3400. Required 1. Enter the beginning balances. 2. Analyze the effect of the transactions on the related asset, liability and equity items. 3. Calculate the profit for June 20XX. Nembar 201y Asif Mandiwala set u