Exercise 2 XYZ is a company which provides services. It was set on January 2, 2015. During the first month of operations, the following events and transactions occurred: 1.On January 2, Mahdi and Karim invest 40,000 SAR cash in XYZ Company in exchange for 40,000 SAR of ordinary shares. 2.On January 3, XYZ receives 10,000 SAR in cash from customers. 3.On January 6, XYZ purchases supplies in cash for 4,500 SAR. 4.On January 9, XYZ pays rent for January in cash 6,000 SAR. 5. On January 12, XYZ provides 12,000 SAR of services for customers. The company receives cash of 5,000 SAR and the remaining balance will be paid next month. 6. On January 16, XYZ purchases on account equipment costing 5,000 SAR. 7. On January 19, XYZ pays in cash 1,500 SAR for insurance policy. 8. On January 22, XYZ pays in cash employee salaries of 2,400 SAR. 9. On January 25, XYZ receives a 1,000 SAR cash advance from a client for services that are expected to be completed by March 31. Instructions: Journalize the January transactions