posit Ahmed Rashid invested $1,000,000 cash, S notes payable of $50,000, and also contributed supplies in the amount o Purchased merchandise on account from Kwanza, $200,000, term 2/10, 1/30; FOS shipping point. Ahmed Rashid company paid the transportation charge of $3,000 Sold goods on account to Mr. Never Pay, $20,000. The cost of the goods was $3,000. bove you Established Petty Cash Fund of $500 Pald 36-month insurance starting from December 1, $3,600 Purchased Furniture and Futures for $200,000 from Omari Honest and paid cash. Returned $20,000 of the merchandise purchased from Kwanza Paid the amount due to Kwanza Sold merchandise to Eric Robinson for $120,000 (cost is $20,000), term 3/15; n/30. Eric Robinson returned $30,000 goods because of defectiveness; the cost of the goods returned was $5,000 Received a 120-day 10% note from Eric Robinson for the outstanding balance due from him. Purchased merchandise from Demetrius El for $90,000, term 2/10; n/30, FOB destination. Demetrius EL paid the shipping charge of $2,000. Paid the amount due to Demetrius El. Discounted the note received from Eric Robinson at 9%. Received $8,000 from ABC for service to be performed. Part of the services owed to ABC was performed in the amount of $2,000. Accrued service revenue of $120,000. Accrued Salaries of $12,000 to be paid to employees. One-month insurance expired and needs to be adjusted. posit Ahmed Rashid invested $1,000,000 cash, S notes payable of $50,000, and also contributed supplies in the amount o Purchased merchandise on account from Kwanza, $200,000, term 2/10, 1/30; FOS shipping point. Ahmed Rashid company paid the transportation charge of $3,000 Sold goods on account to Mr. Never Pay, $20,000. The cost of the goods was $3,000. bove you Established Petty Cash Fund of $500 Pald 36-month insurance starting from December 1, $3,600 Purchased Furniture and Futures for $200,000 from Omari Honest and paid cash. Returned $20,000 of the merchandise purchased from Kwanza Paid the amount due to Kwanza Sold merchandise to Eric Robinson for $120,000 (cost is $20,000), term 3/15; n/30. Eric Robinson returned $30,000 goods because of defectiveness; the cost of the goods returned was $5,000 Received a 120-day 10% note from Eric Robinson for the outstanding balance due from him. Purchased merchandise from Demetrius El for $90,000, term 2/10; n/30, FOB destination. Demetrius EL paid the shipping charge of $2,000. Paid the amount due to Demetrius El. Discounted the note received from Eric Robinson at 9%. Received $8,000 from ABC for service to be performed. Part of the services owed to ABC was performed in the amount of $2,000. Accrued service revenue of $120,000. Accrued Salaries of $12,000 to be paid to employees. One-month insurance expired and needs to be adjusted