• On 1 November 2016, Ahmad and Ganeswaran entered into a joint venture for a clothing business, ganeswaran contributed $7000 to fund the business, while Ahmad’s contribution was $5000. The transactions for the months of November and December 2016 are as follows: November 2016 2 Ahmad supplied goods $3400 10 Ganeswaran paid the shop rental $800 22 Ahmad sold goods by cash $9000 28 Ganeswaran sold goods by cash $4000 December 2016 4 Ganeswaran sold goods by cash $11200 12 Ahmad paid transportation expenses $500 29 Ahmad paid wages $1400 29 Ahmad sold goods by cash $2000 The ventures were paid 3% commission on sales that they made and received 5% interest on the total amount money contributed to the business. Ahmad and Ganeswaran had agreed to share the profits and losses equally between them. Prepare the memorandum of joint venture account and show the relevant ledger accounts in the books of the venture.