Noor K. established an Accounting agency in Deira Dubai in 2017. During the year the following transactions were completed: 1. $500,000 was invested in the business. 2. Services were completed and the customers were billed (on account) $300,000 on account 3. Bought a building for $100,000 for cash. 4. Purchased supplies for $10,000 on account. 5. Paid 6.000 for 12 month building insurance. 6. Paid $12,000 cash for 10 month's rent in advance for an automobile. 7. Paid the wages for the secretary $6.000 8. Paid $4,000 for Electricity expenses. 9. Withdrew $ 12,000 from the business for his personal use. 10. Collected $ 100,000 in advance for services not yet performed. Required: 1. Prepare journal entries to record the above transactions. 2. Open the following ledger accounts Cash, Capital, Accounts receivable, Building, Prepaid Insurance, Prepaid rent, Supplies, Accounts payable, Revenue, Wages expense, Electricity expense, Withdrawals. Post the journal entries to the ledger accounts and enter the balance after each posting. 3. Prepare a trial balance General Journal Note: No explanations required. Account titles and explanations Debit Credit 1. Debit CASH 500,000 500,000 Credit GDHK CAPITAL 300,000 Debit ACCOUNTS RECEIVABLE 300,000 Credit REVENUE 100,000 Debit BUILDING 2 3