On march $1,2014.$ Shareholder of the ABC bank have $$37,500,000$ paid up capital $($in cash$)$ to start up bank$$s operation

$$ ON march $1,2014$ to comply with the regulation. the banks must maintain $10\%$ of its capital at the National bank of Cambodia $($NBC$).$ This capital deposit will earn interest $4\%$ a year and will pay every six months at the end of June and December. $(1/4)$ Of SIBOR $)$

$$ On March $3,2014.$ open a current account with Maybank amount $$2,000,000$ in cash by withdrawing current account from NBC

$$ ON March $5,2014$ the bank bought a building amount $$800,000$ by deduction from current account with the NBC

$$ On march $6\mathrm{.}2014,$ the bank keep $$100\mathrm{.}000$ cash on hand by withdrawing current account from NBC$.$

$$ On march $7,2014$ purchase two vehicles $$70,000,$ property and equipment $$50,500,$ Computer Equipment $$25,000$ and Computer Software $50,000$ by deducting from current account with the NBC

$$ On March $8,2014$ the bank obtained an official license from NBC$.$ On that day, the bank paid cash amount $$17,000(70$ million KHR$)$ for annual license fee, which required to do amortization on monthly basis.

$$ On March $12,2014.$ the bank received the following deposit in cash

$$ Demand deposit from global Security co $ $1,300,000$

$$ Demand deposit from MOC co$.280,000$

$$ Saving deposit from Imperial Security Co Ltd $240,000$

$$ Saving deposit from Mr$.$ Smith $120,000$

$$ Saving deposit from Mr$.$ Dary KHR $10,500,000$

$$ Time deposit from Miss. Vanna $175,000$

$$ time deposit from Mr$.$ Ratana $330,000$

The bank pay interest, $2\mathrm{.}50\%$ for saving account in USD and $10\%$ for saving account in KHR and $5\mathrm{.}50\%$ for time deposit a year.

$$ On March $13,2014,$ The bank maintained $12\%$ of total customer deposit at the NBC and $8\%$ of total customer deposit for Khmer Riels.

$$ On March $15,2014$ the bank paid staff salaries amounted to $$6,500$

$$ On March $15,2014.$ the bank provided loan to Veng Song Heng company amount $$50,000$ at interest rate $18\%$ the loan will be matured on $15$ March, $2015$

$$ On March $22,2014$ the bank decided to maintained current account in cash with interbank and correspondent by deducting current account at NBC as follow

$-$ Maruhan bank $$200,000-$ OSK Bank $$700,000$

$-$ Vathanak Bank $$30,000-$ Bank of Canada $($USA$)$ $$100,000$

$$ On March $23,2014,$ the bank was ordered to transfer money out to Canada $($USA$)$ amount $$75,000$ from miss. Vanna by deducting from her account maintain with bank. the bank charge $$60$ for Telex, $2\%$ communion of fund transfer

$$ On March $25\mathrm{.}2014$ received fixed deposit form

$-$ Canada Bank amount $$3,000000$

$-$ Cambodia Commercial Bank $($CCB$)$ $ $70,000$

$$ On March $26,2014$ The bank maintained $12\%$ of total customer deposit at the NBC

$$ On March $28,2014$ the bank provided loan to Sharp Company amount $$25,000$ at interest rates $24\%.$ The loan mature on March $29,2012$ The amount of loan was withdrawn $50\%$ and the rest is maintain in current account wit our bank.

$$ On March $30,2014$ the bank signed a contract to hire a flat for bank$$s exchange counter. The bank paid $12$ months in advance amount $$12,000$ This amount will amortize for $12$ Months starting from April $2011.$

$$ On March $30,2014$ the bank paid staff salaries amounted to $$6,500$

$$ On March $31,2014$ Interest income on loan to Veng Song Heng Company was received in cash.

$-$ Depreciation on bank$$s building was depreciated by using straight $=$ line method. The building will depreciate for $20$ years.

$-$ Depreciation on bank$$s property and equipment $25\%$ per year for $4$ year

$-$ Depreciation on bank$$s vehicles $25\%$ per year $4$ year

$-$ Amortzation on bank$$s Computer Software $25\%$ per year for $4$ year

$-$ The bank prepare adjustment on prepaid expense,

$-$ Accrual interest Receivable $($AIR$)$ on Capital Guarantee deposit,

$-$ Accrued Interest Payable on customer deposit.

$-$ Accrued interest on loan to sharp company.

Required: Prepare journal entries for the above transactions

Note: Exchange rate: $1$USD$=4\mathrm{.}00$ KHR