PART ONE Financial Accounting Lisa decided to open Moonah Mobiles on 1 July 202X. At first, she will just provide a repair service and then move into mobile phone sales. She contributed equipment valued at $12 000 and shopfitting's $4 000 and deposited $15 000 cash in a business bank account. Lisa plans to use her own vehicle to make deliveries and pick up supplies. Lisa purchased the vehicle for $25,000 on 1 July 202X. The expected life of the car is 5 years with a residual value of $5,000. On 1 July Lisa took out a $10,000 business loan with a fixed rate of interest of 5% p.a. Monthly repayments on the loan are $250 and are due on the 13th of every month. Transactions during July were: July 4 Took a five-year lease on a shop and paid the first 6 months of rent $7,200. 4 Purchased office supplies for $320 and paid $70 cash in part payment for these supplies. 6 Cash received for minor repair work completed, $325. 6 Completed repair works for a Mrs. Jones and issued an invoice for $110. 7 Purchased tools for $1 400, paying $300 cash with the balance to be paid later. 8 Cash revenue earned for repair work, $621. 11 Engaged a part time assistant at an agreed wage of $250 per week. 12 Paid petrol $40, postage $10, and electricity bill $424. 13 Cash of $400 received for repair work. 13 Earned of $550 for repairs on credit. 14 Paid the balance owing for office supplies purchased on 4 July. 15 The owner withdrew $200 for her own use. 16 Office supplies purchased for $220 on credit. 17 Cash revenue received $575. 18 Paid weekly wages to the assistant. 21 Revenue earned for repairs: cash $170, on credit $120. 23 Mrs. Jones paid the bill for services rendered on 6 July. 24 Petrol expenses paid $50. 25 Paid weekly wages to the assistant. 28 Revenue earned for repair work $390, receiving $100 in cash and the remainder to be paid later. 31 Office supplies used $100. Required Complete a worksheet on Excel for the month of July using the above data and prepare an income statement and balance sheet at 31 July 202X (also on Excel and linked to the worksheet)