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The transactions below were carried out by Booncia Enterprise in the month of March 2023:
1. Started business with RM12,000 cash and a vehicle valued at RM40,500.
2. Opened a business account at Butter Bank and deposited RM50,000.
3. Bought uniforms and goods worth RM35,000 from Chew Tyre Trading.
4. Paid insurance company RM3,500 and utility bills RM1,600.
5. Sold uniforms on credit to the Tire Trading for RM70,000.
6. Received RM30,000 from Chew Tyre Trading for full settlement of the amount due.
7. Paid Chew Tyre Trading the outstanding RM5,000.
8. Booncia charged Tire Tyre Trading RM12,000 interest for the amount due by them for 10%.

Analyze the business transactions carried out by Booncia Enterprise in March 2023. This problem focuses on key accounting concepts like double-entry bookkeeping, asset valuation, and interest calculation. Suitable for undergraduate accounting students.

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