Note: answers should be computerized

BUS 103: Principles of Financial Accounting 0-1 Transactions for Ali for the month of September, 2016 are presented below. 1. Ali invested S550,000 to start his business. 2. Purchased land costing $5,000 for cash. 3. Purchased equipment costing S12,000 for $3,000 cash and the remainder on credit. 4. Paid $1,000 cash for insurance 5. Paid S 5,000 cash for rent. Required 1. Prepare Journal entries to record the above transactions. 2. Post to the appropriate ledger accounts 3. Prepare the trial balance