For each of the transactions below, the two accounts affected are given.
 
  State whether the accounts should be debited or credited as a result.
 
  Answer "d" or "c" for "debited", "credited" respectively.  
 
  1) The owner starts the business with £20,000 in cash:  
         
      Action  
    Capital  
    Cash  
         
  2) £15,000 of the cash is placed in a Bank account  
     
         
    Cash  
    Bank  
         
  3) £2000 worth of Fixtures are bought on credit from "Office World"
  ("Fixtures" means shelves/desks/chairs etc needed in the shop.)  
     
         
    Fixtures  
    Office World  
         
  4) Part Re-payment to "Office World, £1000 cash.  
     
         
    Cash  
    Office World  
         
  5) Bought goods on credit from Abe Books  
     
         
    Inventory  
    Abe Books  
         
  6) Bought a delivery van for £3000 paying by cheque  
     
         
    Van  
    Bank  
         
  7) The owner pays Abe Books £200 using his own money  
     
         
    Capital  
    Abe Books  
         
  8) The owner takes £50 from the business bank account for his own use.
     
         
    Capital  
    Bank  
         
  9) We returned some faulty fixtures (bought on credit) to "Office World".
     
         
    Fixtures  
    Office World  
         
  10) A customer buys books on credit.  
         
         
    Acc Receivable  
    Inventory