C-FINANCIAL LITERACY QUESTION 5-CASH JOURNALS Mrs Jean Paul recently won the jackpot while playing bingo. She decided to use this money to fulfil a Melong dream and open a pet grooming service business called "Posh Pets". The transactions which follow relate to the first month of operations being May 2018. Instructions: Record the transactions in: 5.1 Cash Receipts Journal 5.2 Cash Payments Journal Do not add your own columns. Do not close off the journals. May 1 2 3 10 14 19 19 26 DOC NO Transactions Mrs Jean Paul electronically transferred R80 000 from her personal savings account to the cheque account of the business as her initial contribution. (receipt 001) -6- Paid R550 to The Daily News for advertising (cheque 001) Purchased grooming tools and other equipment from Makro and paid by cheque, R2 500. Received R1 900 for clipping the costs of two poodles. Cashed a cheque to pay the wages to the grooming assistant, R1 700. Rented a small space to Mr Irfaan for his cell phone