Financial Accounting Assignment (Problem Solving) Instructions: 1. Assignment need to be submitted in A4 hard copy form paper prior or on due date (290 October/2022) 2. Cover page should include: Assignment title, student name & id, course name, code and section; and the name of the course instructor 3. On submission, the assignment needs to include the question sheet attached with the answer sheet; and cover page with all the needed information required in (2) above. Question 1: The following events apply to Al Qabas International for 2017: 1- Received cash of $60,000 from the issue of common stock. 2- Performed $35,000 worth of service and received $25,000 cash and the remaining on account 3- Salaries expense of $6,000, the $3,000 paid as cash and the remaining will be paid after 4 months 4- Purchased supplies for $6,000 on account 5. Collected $5,000 of accounts receivable related to event (2) 6. Paid $3,500 of the accounts payable. 7. Recognized interest revenue $5,400 8. Had $2,500 of supplies on hand at the end of the period, Required a. Record the above transactions in Joumal Entry form