Question $1(10$ marks$)$

Sam started a retail business selling perfume. The following transactions took place in the

month of June $2024.$

$2024$

June $1$ Sam deposited $$50,000$ into the business bank account to start the business.

$4$ He bought $$15,000$ worth of perfume from supplier $-$ Sherry on credit.

$9$ Sam bought a printer $$2,500$ on credit from an online shop.

$16$ He took a loan of $$50,000$ from JL Bank Ltd$.$

$22$ He sold perfume to Crystal Fashion Trader for $$21,000$ cheque.

$28$ Sam took $$2,000$ worth of perfume to give to friends as personal gifts.

Required:

Using the format of the table given below, analyse the transactions into various components.

Please provide your answers in the following answer template given.

Date

June

Accounts involved Type of Account Nature of

Account

Increase$/$

Decrease

Marks

$1$ Cash at bank

Capital

Assets

Equity

Dr

Cr

Increase

Increase NA