7) Rami & Company has decided to open multiservice corporation in Dubai. During the first month of operations, December 2016, the following transactions have taken place. Dec. 3 Invested $400,000 cash in exchange of shares capital. 7 Purchased services supplies for $200,000 on account. 11 Paid to suppliers $160,000 cash. 15 Provided services to customers on account for $50,000. 25 Paid wages and salaries of $14,000 cash. Required: 1. Prepare general journal entries to record the above transactions in Rami's books (omit explanations). 2. Post journal entries to cash account only