Ahmed had saved some cash and decided to start a Small Business called STAR CARGO. The business will have a monthly accounting cycle. They have started their business on July 19, 2020. The following are some events that happened in 2020 1. July 1. Ahmed invested 50,000 SAR in cash and used Trucks and other equipment cost 60,000 SAR in exchange for ordinary shares in STAR CARGO. 2. July 1. STAR CARGO rented a parking lot that cost 60,000 SAR annually. The full payment due in June 30, 2021. 3. July 2. STAR CARGO paid 72.000 SAR for a one-year insurance policy for the used truck that will expire June 30, 2021 4. July 3. STAR CARGO purchased some tools and other supplies from IKEA signing 5 months note payable for SAR 30,000. The note required STAR CARGO to pay interest at an annual rate of 20%. 5. July 3. STAR CARGO haired 2 drivers starting Monday July 6, 2020. Each driver agreement set the salary to be 720 SAR for a six-day workweek (Sunday is off day). and the salaries will be paid on the seventh day of every month. First payment is on September 7, 2020 6. July 5. STAR CARGO purchased cell phone and other electronic equipment that cost 5000 SAR from Jarir. 2,000 SAR was paid in cash and the remaining on account. 7. July 5. STAR CARGO purchases A dolly tools and set of ratchet straps to secure cargo and other equipment for 7,000 SAR cash. 8. July 8. STAR CARGO signed an advertisement contract with noon.com website for advertisement that cost 5000 SAR the contract started on July 13. STAR CARGO paid 1,000 SAR on July 8 as a down payment and agreed to pay the balance due after the advertisement 9. July 13. The first day of business, noon.com announced the opening day on its website, and STAR CARGO paid the balance due. 10. July 13. STAR CARGO received 30,000 SAR for delivery services from Riyadh to Jeddah 11. July 14. STAR CARGO received 4.000 SAR in cash from a client for a reservation of a delivery service to be provided on July 19,2020. 12. July 15. STAR CARGO provided services for 6,000 SAR to Ali's brother and he agreed to pay the amount due later. 13. July 16 STAR CARGO received 1000 SAR cash in advance for a reservation of a delivery service. The service should be provided on August 2, 2020. 14. July 19. STAR CARGO provided the service (paid on July 14) 15. July 20. STAR CARGO received 3000 SAR from Ali's brother 16. July 25. STAR CARGO paid 5,500 SAR Maintenance expenses. 17. July 29. STAR CARGO paid 500 SAR cash dividends to shareholders. 5. Journalize and post adjusting entries. Extra adjustment data appears on July 31, 2020 consist of: tools, and other supplies on hand 8000 SAR. Depreciation on all assets 1300 SAR 6. Prepare an adjusted trial balance 7. Prepare the 3 financial statements (Income Statement, retained earnings statement, and Statement of Financial position) following the standards