CASE STUDY Mr. Aziz Al Balushi formed Avenue Enterprises on December 1, 2020. During the month, the following financial transactions occurred: 2020 December 1 Aziz invested OR 100,000 in the new business. 6 Avenue Enterprise provided services to Photo shop on account for OR 20,000 8 Purchased office equipment for cash OR 30,000. 10 Services provided for cash OR 25,000 12 Paid Insurance expense for OR 5,000 16 Purchased material on account for OR 10,000 21 Paid to Al Khidmah OR 1,000 cash for utility expenses. 23 Paid OR 8,000 cash for the material purchased on November 16 24 Received OR 15, 000 in cash from Photo shop for services provided on November 6. 31 Withdrew OR 3,000 for personal use Requirements: Now that you have reviewed the case study above, respond to the following requirements on your own. Principles of Accounting 1 (202101) Q1. Record each of the above transactions in general journal. Explanations maybe omitted. Use the following account titles to journalize the transactions: (10 marks) a. Cash b. Accounts Payable c. Accounts Receivable 202101 (QP) Page 1 of 4 d. Insurance Expense e. Utility Expense f. Capital g. Service Fee income h. Material i. Withdrawals j. Office Equipment Q2. Discuss extensively the following terminologies used in Accounting . Appropriate examples should be cited as well. 1. Posting 2. Intangible assets 3. Journal 4. Ledger

my subject is principle of accounting