For each of the business transactions listed below, you are to enter in the Workbook:

a the account name, with the debit account first b whether the account entry is a debit or credit c the chart of account group name; that is, CA, NCA, CL, NCL, OE, R, E d whether the entry is an increase or decrease to the account balance.

Where appropriate, assume the perpetual inventory system is used.

The business transactions are listed below.

– Purchased inventory on credit

– Purchased motor vehicle with bank cheque

– Remitted funds for payment of rent

– Funds for a loan were received from credit union

– Cash sale of inventory

– Additional computer and machinery introduced by owner

– Remittance processed to supplier for inventory purchased earlier on credit

– Sale of inventory on credit

– Paid for advertising by electronic remittance

– Received cheque from customer for inventory sold earlier on credit

– Used debit card to buy office equipment

– Electronic remittance received for commission