Rajpal started a business selling Malasa spices and the following transactions took place in the month of February 2022. 2022 Feb 1 5 Rajpal injected $80,000 into his new business and the money was deposited into the business bank account. He bought $75,000 worth of spices from TBG Tea Ltd. paying with his personal cheque. 11 Rajpal sold $15,500 worth of spices on credit to Best Co. 15 Best Co. returned portion of spices due to wrong specification worth $1,400. 23 Rajpal paid for a fresh of batch of spices worth $4,500 by cheque. 27 Rajpal took a $30,000 loan from his spouse and deposited the money into the business bank account.