Farhad started a business that offers legal services on 1 December 2020. The following are transactions that occurred during December 2020: i) Farhad brought in $50,000 cash and office equipment worth $12,000 into the business. ii) Bought a car for his use worth $112,000 by paying cash (companys money) of $12,000 and signing a note payable for the balance. iii) Provided legal services to a client worth $7,000 and received cash of $3,000 from the client. iv) Purchased office supplies worth $2,000 cash. v) Paid $700 cash for advertising expenses for December 2020. vi) Sent a bill totalling $5,000 to a client for the legal service provided and yet to receive payment. vii) Received $3,000 cash as an agreement to start work as a legal advisor for a company starting January 2021. viii) Paid $3,600 cash for employees salary. ix) Paid $2,400 cash for December office rental. x) As at 31 December 2020, the office supplies used is $400.