Philip McDonald commenced business as a dealer in cellphones. How should the following transactions of his business be accounted for? 

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Transactions 1. Commenced business bringing £25,000 in cash 2. Paid £800 for four chairs and two desks for the office 3. Paid £225 for a press notice announcing start of business 4. Paid cash to buy 18 cellphones at £30 each 5. Paid £45 for office files, a Cash Book and ledger 6. Paid £2,400 to buy a second-hand vehicle for business use 7. Paid £540 for a steel cabinet for the office files 8. Paid £800 to make the vehicle roadworthy 9. Paid £225 for insuring the vehicle 10. Paid £85 to buy fuel for the vehicle 11. Paid £24 to buy envelopes and postage stamps 12. Paid £2,400 as school fees for Philip's son Cash account side Ledger account Name Side