Sadia Islam is a newly recruited trainee officer believes debit balances are favorable and credit balances are unfavorable. Is Sadia correct? Explain.

Mr. Sohag has recently started a delivery business named "Fast Del Services." Some of his transactions in the month of August are as follows :

August 1 Deposit Tk. 200,000 of his personal savings in account Imperial Bank in the name of Fast Del Services.
              3 Acquired a reconditioned delivery truck costing Tk. 15,00,000 paying Tk. 5,00,000 as down payment in cash and financing the remaining by taking a bank loan.
              7 Paid Tk. 25,000 as rent for the month.
             10 Acquired office supplies on account Tk. 2,000
             15 Rendered services to customer Tk. 1,50,000 for delivery services on account.
             17 Paid insurance premium of Tk. 30,000 for next three years.
            20 Collected Tk. 1,00,000 from customers for service provided on August 15.
            21 Paid utility expenses of Tk. 8,000.
            23 Received Tk. 60,000 in advance from Tristar Company for delivery services.
            28 Transferred Tk. 50,000 from 'Fast Del Services account at Imperial Bank to owners personal account at the same bank.

Required : Make Journal entries for the above transaction in the books of 'Fast Del Services.