Show workout of Double Entry Instruction: Write up the asset, capital and liability accounts in the books of D. Scott to record the following transactions. 2015 1 June Started firm with $17,000 in cash. 2 June Paid $15,500 of the opening cash into the firm’s bank account. 3 June Bought equipment on credit from Delta Supply Ltd. for $750. 4 June Bought a motor truck, paying by cheque $5,200. 7 June Bought another motor truck on credit from P. A. J. Motors Ltd for $1,800. 10 June Took $600 out of the bank and paid into the cash account. 12 June Bought machinery paying by cheque $1,500. 15 June Paid the amount owing to Delta Supply Ltd $750 from bank. 21 June Paid P. A. J. Motors Ltd by cheque the amount owing.
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