Deborah started business on 1 January 20X0. On that day she transferred £150,000 from her personal account to a newly opened business bank account. Her transactions during January were as follows:
Paid rent on the business premises, £12,000 in respect of the six months to 30 June 20X0.
Purchased goods on credit from Dawe for £17,500.
Purchased goods for cash £23,000.
Ordered a van, priced at £40,000 from Ivor on credit.
Sold half the goods bought on 2 January to Anne on credit for £12,000.
Sold for cash all the goods bought on 3 Jan. for £30,000.
Took delivery of the van from Ivor; there were extras amounting to £120 which Deborah paid in cash.
Drew £6,000 from the business bank account for her own use.
Anne returned one quarter of the goods sold to her on 7 January, claiming that they were defective; Deborah agreed that the goods were defective.
The goods returned by Anne were returned to Dawe, who agreed that they were defective.
Paid staff wages for the month £7,500.
Using the information given in exercise 2.5, analyses the transactions in debit/credit form showing, in each case, that the extended accounting equation is maintained, e.g.