Write up the asset and liability accounts in the books of M/Crash following transactions:a. 2002 June 1 Started business with Sh.50,000 in the bank __ 2 Bought motor van paying by cheque Sh.12.000 __ 5 Bought Fixtures Sh.4.000 on credit from Office Masters 1.td. Bought :1 van on credit from Motor Cars Lid Sh.S.000 s Took Sh.1.000 out of the bank and put it into the cash till. 12 Bought Fixtures paying by cash Sh.600 __ 15 Paid Motor Cars Lid by cheque Sh8000 10 21 A loan of Sh.10.000 cash is received from J Marcus. 25 Paid Sh.8,000 of the cash in hand into the bank account. 30 Bought more Fixtures paying by cheque Sh.3,000

To record the transactions in the asset and liability accounts of M/Crash, we need to identify the changes in assets and liabilities for each transaction.1. June 1: Started business with in the bank. - Asset (Bank): + - Liability (Owner's Equity): + 2. June 2: Bought motor van paying by cheque . - Asset (Motor Van): + - Liability (Bank): - 3. June 5: Bought Fixtures on credit from Office Masters Ltd. - Asset (Fixtures): + - Liability (Accounts Payable - Office Masters Ltd.): + 4. June 5: Bought 1 van on credit from Motor Cars Ltd . - Asset (Van): + - Liability (Accounts Payable - Motor Cars Ltd.): + 5. June 8: Took out of the bank and put it into the cash till. - Asset (Cash): + - Asset (Bank): - 6. June 12: Bought Fixtures paying by cash . - Asset (Fixtures): + - Asset (Cash): - 7. June 15: Paid Motor Cars Ltd by cheque . - Liability (Accounts Payable - Motor Cars Ltd.): - - Asset (Bank): - 8. June 21: A loan of cash is received from J Marcus. - Asset (Cash): + - Liability (Loan Payable - J Marcus): + 9. June 25: Paid of the cash in hand into the bank account. - Asset (Cash): - - Asset (Bank): + 10. June 30: Bought more Fixtures paying by cheque . - Asset (Fixtures): + - Liability (Bank): - These entries reflect the changes in assets and liabilities for each transaction.