Guy Smith commenced business as a dealer in CCTV cameras. His transactions on the first day of business were as follows:

Required: How should these transactions be accounted for?

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Transactions 1. Received in cash as capital from Guy Smith 2. Paid £2,400 for two tables and six chairs 3. Paid £1,200 to buy CCTV cameras for sale 4. Paid £215 for advertising the CCTV cameras 5. Received £600 from the sale of some CCTV cameras 6. Received £8,000 as a loan from Jerry Baxter 7. Paid £500 as rent for shop premises 8. Paid £48 to buy a Cash Book and a ledger 9. Paid £12,500 to buy a vehicle for office use 10. Paid £45 for fuel 11. Paid back £2,000 to Jerry Baxter 12. Paid £210 to repair the car Account Debit Account Credit