Transactions for Herbert Wood, to 31st December 2020. Herbert commenced the business by depositing 200,000 in a bank account. He bought two retail outlets for 120,000 by cheque. . He raised a short-term loan of 50,000 from Loan Rangers Bank to pay for Fixtures and Fittings 20,000; Purchased Goods for Resale 15,000; and a Delivery Van 15,000 Sold goods on credit for 8,000 (trade receivables) Paid operating expenses of 2,000 Bought more Goods on credit 10,000 (trade payables) Bought Goods by cheque 5,000 Received cheque for trade receivables worth 3000, allowing a 5% discount Took out a long-term loan of 40,000 Bought a new warehouse for 30,000 Drew 1,000 from bank for cash Sold on credit some goods for 10,000 Bought Goods on credit for 14,000 Paid trade payables 900 cash Collected 8,000 from trade receivables and paid into bank. Took 20,000 in drawings out of business for living expenses. 1. 2. Complete the cashbook for all relevant transactions. Enter all transactions into T-accounts and balance off. 3. Extract a trial balance.