J. Ballantine has the following opening balances on her ledger accounts: f Trade receivable: R. Eagle 2,000 Office equipment 20,000 Bank overdraft 4.000 Trade payable: G. Crow 1,000 Loan 20,000 The following transactions take place during the reporting period. 1. Bought desks for 500 by debit card 2. Paid wages of 2,000 by BACS 3. Lodged sales of 25,000, received in cash 4. Sold 5,000 goods on credit to R. Eagle 5. R. Eagle returned 1,000 worth of goods. 6. R. Eagle paid 2,500 by bank transfer 7. Bought a new bookcase for 500 by cheque 8. Repaid 5,000 of the loan account 9. Purchased goods from G. Crow for 12,000 10. Returned goods to G. Crow worth 1,500. They were not fit for purpose 11. Paid G. Crow 8,000 by bank transfer 12. Bought a new car for 10,000. Got an extension to the bank loan to pay for this 13. The bank charged 1,000 interest on the loan for the period. 14. The owner withdrew $500 cash from the bank for his own use. Required a. Use the accounting equation to determine the opening capital balance. b. Open T accounts to record the opening balances and post the 14 transactions. c. Close the T accounts at the end of the period and extract the trial balance