No 1 Mr. Omer started business on 1st January 2010 with Rs. 20,000 ascapital. Below mentioned are the transactions which took place in the month ofJanuary. a) Opened bank account with Rs. 20,000. b) Goods are purchased from Wasiq on credit for Rs. 10,000. c) Sold goods on credit to Munir worth Rs. 1,500 d) Purchase goods on cash for Rs. 1,000. e) Cash sales to Adnan worth Rs. 1,000. f) Machinery purchased and made payment by cheque Rs. 6,700 g) Borrowed Rs. 3,000 from Munir. h) Paid rent to Waris Rs. 100 for the building in which business issituated. i) Paid salary to clerks Rs. 150. j) Amir withdraw Rs. 500 for his personal use. Fill this table after reading these instructions: For easy application of the above mentioned rules take eachtransaction separately and ask yourself the following question:- a) Describe the nature of accounts affected in each transaction?(Inthis you have to see Assets, Liabilities, expense, Income, Capital or equity) b) Which of the item is to be debited or credited? c) Give reasons of debit and credit. | Transaction No | Nature of account | A/C to beDebited| A/C to beCredited | Reasons

Transaction No	Nature of Account	A/C to be Debited	A/C to be Credited	Reasons