ICLO 21Following are the transactions carried out by Bilal Abbass for the month of March for his new business named Abbass Consulting and services Show the journal entries for the following transactions 1. Abbas invested $92,000 cash along with office equipment Valled at $15,000 in a new sole proprietorship named Abbass Consulting and services 2. The company purchased $1,800 of office supplies on credit. 3. The company paid $1,200 cash salary to a worker 4. The company provided services to a client and collected $9,800 cash. 5. On March 1, 2020, Abbass consulting paid $2,400 for insurance for two years 6. The company paid $1,800 cash to settle the account payable created in transaction 2 7 The company completed $8,500 of services for a client who must pay within 30 days 8. The company received $3,000 cash in partial payment on the receivable created in transaction 7 9. Abbass withdrew $1,900 cash from the company for personal use. 13 marks) Once the journal entries are recorded you are required to make the following adjustment entries at the end of 31st March 2020, 1. The insurance purchased on March 1.2020 has expired for a month on 315 March 2020 2. Out of the 51,800 supplies purchased, an year end physical count showed supplies of only 51.520 lying in the warehouse. [2 marks]