Construct the double-entry accounts for the following transactions of a sole trader and balance off each account at the end of the month:

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1 Jul 3 Jul 7 Jul 10 Jul 16 Jul 19 Jul 27 Jul 31 Jul Started own business by placing 3,000 into the bank account and immediately transferred 400 into the cash box. Bought inventory on credit from K Atkinson for 231. Paid insurance by cheque 500. Bought inventory for 87, paying by cash. Sold inventory on credit to H Taylor for 450. Taylor returns 80 of the inventory. Paid sundry expenses 120 by cash. Taylor pays his account in full by cheque.