Pansy started a photocopying business printing documents in bulk for her customers. For each of the following transactions, write the account and amount to be debited and credited.

1. Pansy invests $35,000 into her new business and a business bank account is opened.

2. She contributed her personal car which costs $40,000 for business use.

3. She completed her first photocopy service and collected $372 cash from Simon. She deposited the cash received immediately into the business bank account.

4. Bought a computer and printer from Buzz Co. for business use. The computer costs $4,000 and the printer costs $2,200. A cheque of $2,500 is issued to make part payment, the remainder to be paid by the end of the following month.

5. She completed her second photocopy service and billed client Eugene for $1,200.

6. Withdrew $500 from the bank to keep as cash on hand.

7. Pansy took up a 5-year bank loan of $25,000 and received the money by cheque.

8. Pansy paid $110 cash to purchase supplies for the pantry.

1. She paid Buzz Co. with a personal cheque.

10. Paid interest on bank loan $160 by cash.

11. Eugene paid Pansy the amount owing by cheque.

12. All cash was banked in.

13. Pansy issued a business cheque of $178 to pay for her home telephone bill.