Tanwir commenced his business on 1 October 20X9, with capital in the bank of $20,000. During his first

month of trading, his transactions were as follows.

1 October Purchase inventories for $3,500 on credit from A Jones

3 October Paid $1,200 rental of premises, by cheque

5 October Paid $5,000 for office equipment, by cheque

10 October Sold goods costing $1,000 for $1,750, on credit to P Duncan

15 October Returned inventories costing $500 to A Jones

18 October Purchased inventories for $2,400 on credit from A Jones

25 October Paid A Jones for the net purchases of 1 October, by cheque

28 October P Duncan paid $500 on account, by cheque

The balance on the account of A Jones at 31 October 20X9 was $ ………………………………….