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Case 1 Ahmed was studying in IT department of Ibra College of Technology, after completion of his study he started an IT consulting firm in
Case 1 Ahmed was studying in IT department of Ibra College of Technology, after completion of his study he started an IT consulting firm in Ibra, The following transactions were completed during January 2020: January 1. Started the business with OMR 10,000 cash and Furniture's worth OMR 1,200 and Computers worth with OMR 2,000. 3. Bought stationary OMR 500 from Ibra Furniture Mart, paid 40% and the balance on account 8. Paid travelling expenses OMR 50 12. Performed IT services for clients, OMR 500, received 15% of the amount and balance will receive later. 14. Paid 50% of the amount of Ibra furniture due amount dated on January 3rd 2020. 18. Collected the 50% of amount due for the services performed on January 12th 2020, 24. Paid Salary OMR 250 and Withdrew OMR 200 for personal use. 31. Paid rent OMR 150, paid Ibra furniture Mart balance amount Required: a) Prepare the journal entries to record the above transactions. Use the journal provided below. Narration is required. (5 marks) b) Post the journal entries to the ledgers. Use the ledgers given. Provide Account Numbers
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