1. Oliver & Co. Oliver started a business called Oliver & Co. on January 1. Oliver & Co. offers 2% settlement discount for settlement within 15 days of the invoice date. A summary of January transactions is presented below. 1-Jan 8-Jan 16-Mar 18-Jun 5-Jul Invested RM10,000 by cheque to start the shop. Purchased a van from YB Motor for RM15,000, paid deposit of RM1,500 cheque. Purchased goods amounting RM8,000 from Noah & Co, paid RM2,000 cheque. Paid sundry expenses of RM800 by cheque. Purchased goods from Elijah & Co. amounting RM15,000, receiving bulk discount of 1% and paid RM3,000 cheque. The remaining are on credit. Sold goods to Mason & Co for RM 5,000 on credit. Oliver do not expect Mason & Co to take advantage of the early settlement discount. Mason & Co returned RM500 goods. Mason & Co settled the account receiving 2% settlement discounts. Paid RM2,000 to YB Motor by cheque. Sold goods to Joshua & Co. amounting RM6,000. Oliver expects Joshua to take advantage of early settlement discount. Joshua & Co. settled the account. 20-Aug 22-Aug 30-Aug 10-Nov 11-Dec 30-Dec Required: a) Raise journal entries to record the transactions [15 marks) b) Post the entries to the general ledger accounts [11.5 marks) c) Balance the accounts and prepare a trial balance for the year ended 31 December 2021. [5.5 marks) [Total: 32 marks]