please help me set up these accounts (tables) and explainmany thanks.

Michael owns and manages a small business which sells organic beauty products to high street shops. Michael sells to the shops on credit at 30 days credit terms. (Michael manages all aspects of the business, including ordering, delivery and managing the accounts.) The business accounts are balanced at the end of each month, and the transactions are posted daily.

On 1 July, the balances on Michael's general ledger accounts were as follows:

Account name	Debit ()	Credit ()
Capital		63,000
Van (at net book value)	30,000
Bank	1,500
Receivables control	62,000
Payables control		30,500
	93,500	93,500

During July, the following transactions took place:

No.	Date	Amount ()	Transaction
1	2 July	5,200	Michael pays the business rent from his personal bank account
2	4 July	2,800	Michael receives payment from shop Shampoo in part settlement of amounts outstanding
3	8 July	9,000	Michael sells goods to shop Soap on 30 days credit terms
4	9 July	32,570	Michael receives payment from shop Shower Gel in full settlement of the amount outstanding
5	11 July	10,900	Michael purchases goods from supplier Lemon on 30 days credit terms
6	17 July	11,200	Michael pays to supplier Lemon by bank transfer in part settlement of amounts outstanding
7	22 July	25,899	Michael pays by bank transfer the full amount outstanding on the account of supplier Rose
8	28 July	11,000	Michael sells goods to shop Shampoo on 30 days credit terms

Required:

• i.Set out Michael's general ledger accounts at 1 July.

• ii.Continuing on, post to the relevant accounts the ten transactions that took place in July.

• iii.Balance off the general ledger accounts.

• iv.Present the trial balance at 1 August