Will Pierce runs a small business. Construct the ledger accounts from the following transactions. 2014 1 August

Will Pierce runs a small business. Construct the ledger accounts from the following transactions.

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2014 1 August Pierce borrows 5,000 from K Johnson and places this into the bank. 1 August Pierce transfers 1,000 from the bank into cash. 3 August Wages paid by cheque - 320. 4 August Pierce purchases goods on credit from D Rooney for 52. 11 August Cash sales - 340. 15 August Pierce pays insurance of 85 in cash. 20 August Pierce pays his private car insurance using business cash of 28.