Record the following transactions relating to a trading business for the month of May 2020 into their respective ledger accounts, balance off all the accounts at the end of the month and then answer the questions which follow. Note: the questions require just one-word answers (for example 23(a) $20,000, 23(b) debitor credit); thus you are not required to show the ledger or T-accounts in your answers. 2020 May 1 May 3 May 5 May 6 May 11 May 17 May 19 May 21 May 23 May 30 Owner started business with $7,000 in the bank. Bought goods on credit from A Stacey 5500 Sold goods on credit to B Gypsy $600. Paid office rent by check $200 Sold goods $240 for cash. Paid salaries to employees by cash $40. Bought goods on credit from A Stacey S300 Bought office furniture from Baki Lid, paying $600 by check. Paid A Stacey by check $500 Received check from B Gypsy $520 (a) How much money did the business have in its bank account at the end of May? (b) State whether the bank account had a debit or credit ending balance? (c) How much money had been invested by the owner in the business? Answer: (d) State whether the owner's capital account had a debit or credit ending balance? Answer: (e) What was the total amount of purchases made in the month? Answer: (State whether the purchases account had a debitor credit ending balance? Answer: (g) How much was owed to A Stacey at the end of the month? Answer: (h) State whether the A Stacey account had a debitor credit ending balance? Answer: How much did B Gypsy owe the business at the end of the month? Answer: State whether the Gypsy account had a debit or credit ending balance? Answer: (K) What was the total amount of sales made in the month? Answer (1) State whether the sales account had a debitor credit ending balance? Answer: (m) What was the balance carried down (b old) in the office rent account? Answer: (n) State whether the office rent account had a debitor credit ending balance? Answer: (9) How much cash did the business have at the end of the month? Answer (p) State whether the cash account had a debitor credit ending balance? Answer: (9) How much salary was paid by the business to its employees during May? Answer: (n) State whether the employee salaries account had a debitor credit ending balance? Answer: (s) What was the balance brought down (b b/d) in the office furniture account? Answer: (State whether the office furniture account had a debitor credit ending balance