Write up the accounts to record the following transactions:
May
1 Started business with £1,500 cash and £18,000 in the bank.
2 Received a loan of £4,000 from T. Fox by cheque.
3 Bought a computer for cash £1,200.
5 Bought display stands on time from Drop Ltd £840.
8 Took £400 out of the bank and put it in the cash till.
15 Repaid part of Fox's loan using the business debit card £1,000.
17 Paid amount owing to Drop Ltd £840 by Internet transfer from the bank account.
24 Repaid part of Fox's loan by cash £500.
31 Bought a colour laser printer on time from P. Blake for £400.