Exercise 2: Ronald started his own business on January 5,2020 ,the following transactions occurred during January: 1. He invested $12000 in cash in the business. 2. Purchased $500 of supplies on account. 3. Paid $1000 of insurance. 4. Received $2000 for services to be performed in June 2020. 5. VVithdrew $1000 cash for personal use. 6. Performed $6000 of services on account. 7. Paid $2500 for employee salaries. 8. Borrowed $1000 from the RAK bank. 9. Paid for the supplies purchased previously on account. 10. Received a cash payment of $5000 for services performed previously. 11. Purchased a machine for $3000 on account. 12. Incurred telephone expense for January of $1500. 13. Paid $2000 for the machined purchased previously. 14. Received $2000 investment revenue. 15. Paid $1000 of rent. Required: Joumalize the above transactions