1. On 1 July, Michael Brown started a new business. During July he carried out the following transactions:
   • 1 July: Deposited $18,000 in a newly-opened business bank account.
   • 2 July: Bought office supplies for $2,500 cash and inventories $12,000 on credit.
   • 3 July: Borrowed $3,500 from a family member and deposited it in the bank.
   • 4 July: Bought a delivery truck for $14,000 cash and withdrew $600 in cash for his own use.
   • 5 July: Bought a further delivery truck costing $20,000. The truck bought on 4 July was given in part exchange at a value of $10,000. The balance of the purchase price for the new truck was paid in cash.
   • 6 July: Brown won $5,000 in a lottery and paid the amount into the business bank account. He also repaid $2,000 of the borrowings.

Required: Draw up a statement of financial position for the business at the end of each day.