Hey-O sdn bhd has started a new business selling hardware. The following transactions took place during the year ended 31 December 2017: Date Particulars Jan 1 Invested cash in business Jan 8th Purchased hammer by using cash Feb 13th Sold driller on credit March 2nd Credit purchases March 28th Paid cash for utility bills April 1= Cash sales May 23rd Returned defective goods to supplier May 30th One of the customers, Mr You Yee returned damaged goods June 11th Paid cash for rent July 7th Received commission by cheque August 28th Paid cash for furniture September 9th Received cash from one of the trade debtors October 4 Paid supplier by cheque Drawing of goods by owner October 21# One of the trade debtors paid for his account by cheque November 5th Received cash from loan taken for business expansion December 24th Paid supplier early by cheque Received discount Conducted seminars and received fees payment by cheque December 25th Additional information: 1. Utility bills for the year ended 31 December 2017 was RM 7,050 in total. 2. The rental rate is at RM 1,200 per month. 3. The fees received include two sessions which were not yet carried out. The rate was at RM 2,500 per session. 4. Bad debt recorded for the year amounting to RM 500. 5. Purchased a second hand lorry by cash on 31 May 2017 with the following details: Items RM Acquisition price 150,000 Legal fees 1,500 6. The lorry will be depreciated by using reducing balance method at 25% per annum. 7. The furniture will be depreciated using straight line method for 5 years with no residual value. 8. Provision for doubtful debt is made at 5.25% at the end of the first year. You are required to: 1. Prepare relevant ledgers for all the transactions. 2. Prepare the income statement. 3. Prepare the balance sheet. Hey-O sdn bhd has started a new business selling hardware. The following transactions took place during the year ended 31 December 2017: Date Particulars Jan 1 Invested cash in business Jan 8th Purchased hammer by using cash Feb 13th Sold driller on credit March 2nd Credit purchases March 28th Paid cash for utility bills April 1= Cash sales May 23rd Returned defective goods to supplier May 30th One of the customers, Mr You Yee returned damaged goods June 11th Paid cash for rent July 7th Received commission by cheque August 28th Paid cash for furniture September 9th Received cash from one of the trade debtors October 4 Paid supplier by cheque Drawing of goods by owner October 21# One of the trade debtors paid for his account by cheque November 5th Received cash from loan taken for business expansion December 24th Paid supplier early by cheque Received discount Conducted seminars and received fees payment by cheque December 25th Additional information: 1. Utility bills for the year ended 31 December 2017 was RM 7,050 in total. 2. The rental rate is at RM 1,200 per month. 3. The fees received include two sessions which were not yet carried out. The rate was at RM 2,500 per session. 4. Bad debt recorded for the year amounting to RM 500. 5. Purchased a second hand lorry by cash on 31 May 2017 with the following details: Items RM Acquisition price 150,000 Legal fees 1,500 6. The lorry will be depreciated by using reducing balance method at 25% per annum. 7. The furniture will be depreciated using straight line method for 5 years with no residual value. 8. Provision for doubtful debt is made at 5.25% at the end of the first year. You are required to: 1. Prepare relevant ledgers for all the transactions. 2. Prepare the income statement. 3. Prepare the balance sheet