Jessie Samuels, a sole trader, owns a retail shop in Brownie Town that sells a designer shoe items. She named it Jess Come Buy. The following information relates to the transactions of Jess Come Buy for the first month of operation May 2021. May 1 started business with, cash, $50,000, motor vehicle $120,000 and building, $250,000 May 2 received a long term loan from the First Union Bank, $260,000 by cheque May 3 paid for store furniture by cheque $50,000. May 3 bought merchandise for resale by cheque $130,000. May 4 sold merchandise to Dillards Department Store, for cash $110,000. May 5 sold merchandise on credit to New York & Co $105,000 and Nordstrom $95,000. May 6 rented Tory Burch a booth for the month of May to display their new summer arrivals, $15,000. The contract states that they will pay this amount by cash on June 5, 2021. May 7 bought merchandise on credit from Jimmy Choo $80,000. May 8 sold merchandise on credit to Neiman Marcus $65,000. May 10 bought fancy stationery with the entitys logo for cash $21,000. May 11 Being a new kid on the block, aggressive marketing and advertising was needed. Jess hired Willz Marketing Associates to advertise the business is various magazines. She paid them $60,000 cash. May 13 returned merchandise to Jimmy Choo for $6,000 receiving a credit note for these goods. May 14 purchased a Display Cabinet, (place in furniture account) on credit from Courts Ltd for $150,000. May 15 bought merchandise on credit from Manolo Blahnik $35,200. May 16 sold merchandise receiving a cheque for $135,000 May 17 New York & Co settled their account with cash receiving a 5% discount. May 18 lodged cash of $45,000 to the business bank account. May 19 merchandise valued at $5,500, sold on credit to Nordstrom on May 5, was returned a credit note was given to Nordstrom May 20 paid Jimmy Choo $65,000 in full settlement of the balance outstanding by cheque. The outstanding amount after payment was received as a discount. (Tip: rough check the balance re the debits and credit for Jimmy) May 22 paid electricity by cheque $60,000, water rates by cash, $25,000 and security fees of $25,000 by cheque May 25 paid staff salaries by cheque $85,000. May 28 Jessica, took some merchandise, a pair of crystal studded sandals to wear to her husbands birthday party $15,000 May 30 received commission by cheque for selling a Limited-Edition Jimmy Choo, patent leather pumps of $20,000 3 REQUIRED: a) Journalize the transactions for the month. (Narrations are not necessary) (15 marks) b) Post the above transactions in the General ledger. (25 Marks) c) Extract a trial balance as May 31, 2021. (10 marks)