(a) During the year, Fengsheng Services had the following transactions for the month of August 2022: Purchase Office Premises for RM90,000 on account. 723456 1) Purchase Furniture for RM5,000 on account. 2) 3) Purchased Computer for RM1500 on account. 4) 5) 6) 7) Paid RM90,000 to a creditor. Fengsheng paid RM4,000 salary to his assistant. Received RM10,000 cash from customer, the service has been completed. On 31 August 2022, received RM2,000 advance payment from the customer, Fengsheng will provide the service on 5th September 2022. 8) Received electricity bill of RM250 on 31st August 2022, the bill will be paid on 5th September 2022. Required: Indicate the effects of the business transactions on the accounting equation for Fengsheng Services Transaction (1) is answered as a guide. 1) Increase assets (Furniture); Increase Liability (Accounts Payable). (7 marks) (b) State the amount of revenue that should be recognised for the year ended 31 August 2022 for each item below, justify your answer by reference to the revenue definition and revenue recognition criteria. 1) MAJU Sdn Bhd sold 5 round tables to a restaurant on August 31, 2022, for RM10,000. The table was paid in 20th, 2022, and was delivered on September 30, 2022. (4 marks)