Demonstrate knowledge of computerised accounting software, from entering transactions into the system up to the creation of financial statements through the system) Use the Zipbooks accounting software to set up Nadja Food Supplies accounts and record the transactions for that hypothetical retail shop selling food supplies. You can ignore any incomes and expenses other than the ones stated in the transactions below. The following transactions were written on a piece of paper for the month of July. The balance date for Nadja Food Supplies is 31 July 2022.

The opening balance for the following accounts are cash RM20 000, inventory RM50 000, account receivable RM30 500, allowance for doubtful debts RM500, shop fittings RM10 000, accounts payable RM25 000and capital (Nadja) RM85 000

Paid three months rent of premises, RM3000.

Purchased inventories on credit from BML Wholesalers for RM5 000, terms n/30.

Cash sales, RM1 200 (cost price RM800).

Returned goods to BML Wholesalers, RM500

Paid RM800 advertising

Credit sales to Zeebs Holdings for RM3 800 (cost RM2 000), terms n/30.

Paid RM6 000 off accounts payable outstanding at the beginning of the period.

Purchased inventories for cash, RM1 000

Zeebs Holdings returned goods, RM600 (cost RM380)

Cash sales of RM2 800 (cost price RM1 800).

Cash refund of RM50 for sales allowance on goods sold on 18 July

Nadja took inventory with a cost of RM500 for his own use.

Paid the months wage of RM1 400.

Credit sales to Marthas Meals, RM800 (cost RM500), terms, n/30.

Marthas Meals returned goods, RM200 (cost RM120).

A physical stock take revealed inventory on hand of RM50 200

Additional information:

Shop fittings are bought on the 1 Jan 2022 and are depreciated using the straight-line method. Nadja estimates that the useful life are 5 years and the residual value RM 2000.

Requirements: Part I

1. You are required to enter ALL the transactions including the balance day adjustments from the piece of paper into the accounting software.

2. Set up the accounts with the proper account ID in Zipbooks Accounting Software.

a. Trial Balance as at 31 July 2022, b. Balance Sheet as at 31 July 2022, c. Income Statement for the period of 31 July 2022

d. General Journal for the period of 31 July 2022