Mr. Nazrul Islam opens her own law office on July 1, 2020. During the first month of operations, the following transactions occurred. 1. Mr. Nazrul Islam invested Tk.2,00,000 in cash in the electronics business. 2. Paid Tk. 10,000 for July rent on office space. 3. Purchased equipment on account Tk.30,000. 4. Performed services to clients for cash Tk.15,000. 5. Borrowed Tk.70,000 cash from a bank on a note payable. 6. Performed services for client on account Tk.20,000. 7. Paid monthly expenses: salaries and wages Tk.5,000, utilities Tk.1300, and advertising Tk.1,000. 8. Mr. Nazrul Islam withdrew Tk.10,000 cash for personal use 

Required: Prepare a tabular summary of the transactions

Answer rating: 100% (QA)

Solution Assets Liabilities Owners Capital Retained Earning Sr N... View the full answer