ABC Ltd is a newly established business selling computer hardware. Shown below are ledger accounts in T-account form, with entries made for the first month of operations. Bank Accounts Receivable Inventory (1) 300 000 (2) 120 000 (3A)150 000 (2) 120 000 (3B)100 000 (6A) 60 000 (4) 10 000 ( 140 000 (6B) 40 000 (8) 130 000 (5) 1000 (9) 31 500 (10) 190 000 Short-term Investments Motor Vehicle Accounts Payable (10) 190 000 (4) 40 000 (6) 140 000 Short-term Loan (9) 30 000 (4) 30 000 Share Capital (1) 300 000 (8) 130 000 Sales Revenue (3A)150 000 (6A) 60 000 Cost of Goods Sold (3B)100 000 (6B) 40 000 Advertising Expense (5) 1000 Interest Expense (9) 1500 Answer 4 questions by selecting answers from the drop-down menus below. Each question awards 1.5 marks. What is the closing balance of Inventory? e What does transaction (2) represent? purchase of inventory for cash Which transaction represents payment for an expense item