iron furniture. The following transactions took place during the first financial year of the entity ending 31 August 20.19. On 1 September 20.18 the owner Mr Will Turner made his new personal machine, the Belt Grinder, available to the business. The cost of the Belt Grinder was R15 000. On 1 September 20.18 the factory building the business will be using was purchased for R230 000 using a long-term loan that is payable on 31 August 20.24