III. Balance sheet of Company Beta dated 31.12.2015 showed the following accounts: a) fixed assets 60000 b) trade receivables 12500 c) cash in bank account 7500 d) share capital 50000 e) trade payables 20000 f) long-term liabilities 10000 " accumulated depreciation of fixed assets 10000 In January the company noted the following economic transactions: 1. Materials worth 6500 were taken from the warehouse and used: a) for production purposes 5000 b) as a casual office use 1500 2. Company calculated salaries: a) of manufacturing workers 3000 b) of administrative staff 5000 c) of sales representatives 2000 3. Company paid by bank transfer a water bill: a) 1000 for electricity used for production of goods b) 500 for electricity used for office purposes 4. Company paid 1200 for interest on long-term liabilities 5. Company received a payment from customer 6500 6. 1000 units of finished products were produced and taken into warehouse at manufacturing cost. Work in progress was calculated and recognized. 7. Company sold 700 units of finished goods with deferred payment. Selling price was 25 per unit. 8. Sold products were taken from the warehouse and delivered to the customer. 9. Company received an invoice for transport of finished products for 100 . Required: 1/ Open the accounts with opening balances ( 1 points). 2 2) Record all transactions. Costs are recorded both as costs by nature and costs by functions ( 10 points). 3/ Close all accounts, show their ending balances and calculate profit or loss for January according to costs by function structure in the Profit/(loss) account (1 point)