On 1 January 2020, Razak resumed business with the following assets, liabilities and equity: RM Cash at bank 5,500 Inventory 15,800 32.000 vehicles 5,200 fixtures and fittings Account not received: Mohan 4.800 Accounts payable: 4,600 Money Wholesalers Accounts payable: Seng Lee Trading 8,700 Capital 50,000 The following are transactions that took place during January 2020: Date Reference Documen Amount 2 Inv2550 5 CB 0001 5,600 1,500 600 7 CN0031 8 CN0022 300 10 Inv2700 2,500 Transaction Purchase mercahandise on credit from Wangsa Maju Sdn Bhd Cash sales to Ani CB 0001 1,500 Retail Stores Returning damaged goods to Wangsa Maju Sdn Bhd Mohan returns damaged goods Purchase a freezer from Tan Electrical Sdn Bhd on credit Credit transfer to the business bank account is received from Mohan to settle the debt and given a 5% Business checks were handed over to Seng Lee Trading for partial payment of OR0200 5,000 debt Cash sales to Gray Retail Shop Pay the debt to the Money Provider in cash Pay salaries via online transfer to employee bank account 14 CB0002 4,050 16 OR0200 5,000 22 24 CB 0003 OR1234 3.100 1,500 30 PV0123 3,600 Be required: a) State the effect of the transaction on the components of the accounting equation. b) State the double entry for each business transaction c) Identify the first notebook (Journal), d) Prepare a journal for each business transaction by January 2020. e) Transfer information from each journal to the appropriate ledger. Prepare trial balance for January 2020 for Razak Business