5. For each of the following transactions or events pertaining to ABC Ltd., answer the following questions: (a) Prepare the journal entryfentries. (b) Identify the source document(s) that would support recording the journal entry. Transaction 1: ABC has purchased inventory on credit for $445,000. Assume ABC uses a periodic inventory system. Transaction 2: ABC has made a sale of goods, on credit, for $100,000. ABC's gross profit on this transaction was 93% of revenue. Assume ABC uses a perpetual inventory system and further assume that revenue should be recognized at the date of sale. Transaction 3: ABC has received a cheque from a customer in the amount of $71,000 for settlement of a promissory note receivable