Question
Nadia Ahmed opens her own law office on July 1, 2020. During the first month of operations, the following transactions occurred: (i) Nadia invested Tk.
Nadia Ahmed opens her own law office on July 1, 2020. During the first month of operations, the following transactions occurred: (i) Nadia invested Tk. 65,000 in cash in the law practice. (ii) Paid Tk. 3,800 for July rent on office space. (iii) Purchased equipment on account Tk. 18,000. (iv) Performed legal services to clients for cash Tk. 15,000. (v) Borrowed Tk. 40,000 cash from a bank on a note payable. (vi) Performed legal services for client on account Tk. 12,000. (vii) Paid monthly expenses: salaries Tk. 5,000, utilities Tk. 1,300 and advertising Tk. 2,000. (viii) Nadia withdrew Tk. 4,000 cash for personal use. Instruction: Prepare a Tabular summary of the transactions.
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