Jan 1 Jack opened a bank account for the cleaning business and deposited RM100,000 into the account. In addition, he also brought in cleaning equipment from his previous business which costs RM60,000.

1 Champion Cleaners bought a one-year fire insurance policy for RM9,600.

2 Champion Cleaners purchased additional cleaning equipment from a vendor for RM20,000.

2 Champion Cleaners purchased RM6,400 worth of cleaning supplies on account.

8 Champion Cleaners completed a RM2,000 house cleaning project. Client A issued a cheque for the services rendered.

12 Client B made an advance payment for a RM3,000 house cleaning service that will be completed in April 2021.

14 Jack withdrew cash of RM900.

17 Champion Cleaners signed a contract with Client C for a contract worth RM1,600. The contract is for 4 months and will commence in April 2021. Client C paid a 15% deposit.

19 Client D paid Champion Cleaners RM900 for cleaning services carried out at her business premises.

20 Champion Cleaners paid one-half of the cleaning supplies purchased on 2 January. The balance will be paid in February.

24 Champion Cleaners received January utility bills for RM500. The bills have not been paid.

30 Paid January rental amounting to RM2,000.

31 Jack took cleaning supplies worth RM1,000 for use in his home.

The Chart of Accounts of Champion Cleaners are as follows: Cash at Bank, Accounts Receivable, Cleaning Supplies, Prepaid Rent, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Loan Payable, Utilities Payable, Unearned Revenue, Owners Capital, Owners Drawings, Revenue, Rent Expense, Insurance Expense, Depreciation Expense, Insurance Expense, Utilities Expense and Salary Expense.

Required:

a)Record the necessary journal entries for the above transactions. Narrations are required.

b) Post the journals to the respective general ledger accounts and calculate the balance carried forward to February.

c) Prepare the Trial Balance of Champion Cleaners as at 31 January 2021.