ABC Ltd. started the month of January with a cash balance of $10,000. During the month, the following transactions occurred:
•January 5: Purchased inventory worth $2,000 on credit.
•January 10: Paid $500 for office supplies.
•January 15: Sold goods for $3,000 on credit.
•January 20: Paid $1,000 towards the amount owed for the inventory purchased on January 5.
•January 25: Received $2,000 from customers for sales made earlier.
Tasks:
1.Prepare the journal entries for each transaction.
2.Post these entries to the appropriate ledger accounts.
3.Prepare a trial balance as of January 31.

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