note to expert: you are required to prepare a written report for the following tasks by typing here only dont use your hand writing please.

all my previous questions can find in chegg

Transactions for the month of April of a bakery, ColaCake Enterprise are given as the following.

2021

APR 1 Initial investment to start the business with RM200,000 cash

2 Put RM90,000 of the cash into a bank account

3 Bought goods for cash RM5,500

4 Bought goods on credit from: CIKU RM800; CAKU RM930; TIKU RM160; TAKU RM510

5 Bought stationery on credit from TULIS BHD RM89

6 Sold goods on credit to: GIGA RM170; MEGA RM240; PETA RM326; TERA RM204.

8 Rent paid by cheque RM220

10 Bought fixtures & fittings by credit from TABLE BHD RM610.

11 Paid salaries in cash RM790.

14 Returned goods to CAKU RM30; TIKU RM42.

15 Bought a Mobile Lorry by cheque RM6,500.

16 Received loan from RHB BHD by cheque RM2,000.

18 Sales return from GIGA RM5; PETA RM20.

21 Cash sales RM145

24 Sold goods on credit to MEGA RM130, TERA RM410; ZETA RM158.

26 ColaCake paid the following by cheque: CAKU RM900; TIKU RM118.

29 Received cheques from ZETA RM158; MEGA RM370.

30 Received a further loan from POSB BHD by cash RM500.

30 Received RM614 cash from TERA

Q5 Briefly explain the importance of having a good accounting practices in a business.