The following information related with the transactions of P. Hewitt in his first month of trading of his new business set up in Brampton, Ontario.

2022

March

1 Started business with cash $50,000. 5 Purchase equipment by cash $15,000.

9 Purchase motor van on credit from Benz $10,000 11 Paid $26,000 of the cash of the business into a bank account.

12 Paid the amount owing to Benz for the motor van purchased on March 9 by cheque.

14 Paid monthly office rent by cash $1,000.